SENATE DOCKET, NO. 543        FILED ON: 1/17/2017

SENATE  .  .  .  .  .  .  .  .  .  .  .  .  .  .  No. 1667

The Commonwealth of Massachusetts

_________________

PRESENTED BY:

James E. Timilty

_________________

To the Honorable Senate and House of Representatives of the Commonwealth of Massachusetts in General
Court assembled:

The undersigned legislators and/or citizens respectfully petition for the adoption of the accompanying bill:

An Act relative to tax deductions for contributions to college savings plans.

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PETITION OF:

SENATE DOCKET, NO. 543        FILED ON: 1/17/2017

SENATE  .  .  .  .  .  .  .  .  .  .  .  .  .  .  No. 1667

[SIMILAR MATTER FILED IN PREVIOUS SESSION
SEE SENATE, NO. 1612 OF 2015-2016.]

The Commonwealth of Massachusetts

_______________

In the One Hundred and Ninetieth General Court
(2017-2018)

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An Act relative to tax deductions for contributions to college savings plans.

Be it enacted by the Senate and House of Representatives in General Court assembled, and by the authority of the same, as follows:
 

Paragraph (a) of Part B of section 3 of chapter 62 of the General Laws, as appearing in the 2014 Official Edition, is hereby amended by adding the following paragraph:-

(17) Contributions to qualified tuition program under Section 529 of the Code, such as the U.Fund or the U.Plan offered through the Massachusetts Educational Financing Authority; but in the case of a single person, a married person filing a separate return or a head of household the deduction shall not exceed $500, and in the case of a married couple filing a joint return, the deduction shall not exceed $1,000.