House Bill (S)

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DIGEST

Study of tax topics. Urges the legislative council to have the interim study committee on fiscal policy study the following: (1) Whether the annual limit on the adjusted gross income tax credit for contributions to a college choice 529 savings plan should be modified in some way to allow a taxpayer to make greater contributions earlier in the taxpayer's schedule of savings. (2) The implications of changes made by the federal Tax Cuts and Jobs Act to the allowable uses of 529 plans. (3) Whether the adjusted gross income tax deduction for education expenditures should be extended to include expenditures Study of tax topics. Urges the legislative council to have the interim study committee on fiscal policy study the following: (1) Whether the annual limit on the adjusted gross income tax credit for contributions to a college choice 529 savings plan should be modified in some way to allow a taxpayer to make greater contributions earlier in the taxpayer's schedule of savings. (2) The implications of changes made by the federal Tax Cuts and Jobs Act to the allowable uses of 529 plans. (3) Whether the adjusted gross income tax deduction for education expenditures should be extended to include expenditures made in connection with the enrollment, attendance, and participation in a public school elementary or high school education program. ... View more