Subsection (a) of section 3B of chapter 62 of the General Laws, as appearing in the 2012 Official Edition, is hereby amended by inserting at the end thereof the following new paragraph:-
(17) An amount equal to the amount expended in such taxable year for the purchase of an interest in, or contributed in such taxable year to an account in, a prepaid tuition program or college savings program established by the commonwealth or any instrumentality or authority thereof. In the case of a single person or a married person filing a separate return or a head of household, the total amount deducted in such taxable year shall not exceed $5,000. In the case of a married couple filing a joint return, the total amount deducted in such taxable year shall not exceed $10,000.
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