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HOUSE DOCKET, NO. 1844         FILED ON: 1/20/2011

HOUSE  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  No. 1681

 

The Commonwealth of Massachusetts

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PRESENTED BY:

Brian S. Dempsey

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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 providing for a certain income tax deduction.

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PETITION OF:

 

Name:

District/Address:

Brian S. Dempsey

3rd Essex

Cory Atkins

14th Middlesex

Steven S. Howitt

4th Bristol

Ryan C. Fattman

18th Worcester


HOUSE DOCKET, NO. 1844        FILED ON: 1/20/2011

HOUSE  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  No. 1681

By Mr. Dempsey of Haverhill, a petition (accompanied by bill, House, No. 1681) of Brian S. Dempsey and others for legislation to provide for an income tax deduction for contributions made to college savings plans.  Revenue.

 

[SIMILAR MATTER FILED IN PREVIOUS SESSION
SEE HOUSE, NO. 2721 OF 2009-2010.]


The Commonwealth of Massachusetts
 

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In the Year Two Thousand Eleven

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An Act providing for a certain income tax deduction.
 

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

              SECTION 1.  Paragraph (a) of subsection B of section 3 of chapter 62 of the General Laws, as appearing in the 2004 Official Edition, is hereby amended by adding the following subparagraph:-

                              (14)  An amount equal to the amount contributed by the taxpayer to a college savings plan authorized under section 529 of the Code.  The amounts to be deducted hereunder shall not exceed:

                              (A)  in the case of a single person or a married person filing a separate return, $5,000;

                              (B)  in the case of a head of household, as defined under section 2(b) of the Code, filing a separate return, $7,725; and,

                              (C)  in the case of married persons filing jointly, $10,000.

              SECTION 2.  Section 1 shall be effective for taxable years beginning on or after January 1, 2007.

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