SB264: College Savings Plan; income tax deductions and sales of prepaid tuition contracts.

Chief Patron

Brandon Bell (R-Roanoke)
Served: 2004–

Progress

☑	Introduced
☒	Passed Committee
☐	Passed House
☐	Passed Senate
☐	Signed by Governor
☐	Became Law

Status

Bill is Dead
View Entire History

Summary

Virginia College Savings Plan; income tax deductions and sales of prepaid tuition contracts. Increases the income tax deduction for payments under prepaid tuition contracts and contributions to savings trust accounts to $3,000 per contract or account beginning January 1, 2006, and to $4,000 per contract or account beginning January 1, 2008. Under current law, the annual deduction may not exceed $2,000 per prepaid tuition contract or savings trust account.

The bill provides that the Board of the Virginia College Savings Plan shall not enter into any prepaid tuition contract on or after July 1, 2008. View Full Text »

Poll Results

No Richmond Sunlight visitors voted on this bill while voting was open.

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