"College Success 529 Expansion Act"; enact

Also relevant to:Student / education borrower

Where it is in the process

Plain-English Summary

A BILL to be entitled an Act to amend Article 11 of Chapter 3 of Title 20 of the Official Code of Georgia Annotated, relating to the Georgia Higher Education Savings Plan, so as to revise the maximum amount of contributions allowed per beneficiary of savings trust accounts for higher education expenses; to amend Code Section 48-7-27 of the Official Code of Georgia Annotated, relating to computation of taxable net income, so as to revise the deduction for contributions to savings trust accounts; …

Source: OpenStates · fetched February 27, 2025

Who it affects

Parent / guardian

May be able to contribute more to their children's higher education savings and potentially receive a revised tax deduction.

Student / education borrowerindirect

May benefit from increased savings for higher education expenses due to revised contribution limits and potential tax deductions for contributors.

AI-extracted

Who This AffectsAI analysis

Student / education borrowerindirectModerate impactMedium certainty
May benefit from increased savings for higher education expenses due to revised contribution limits and potential tax deductions for contributors.
“revise the maximum amount of contributions allowed per beneficiary of savings trust accounts for higher education expenses”· Article 11 of Chapter 3 of Title 20
“revise the deduction for contributions to savings trust accounts”· Code Section 48-7-27
Parent / guardiandirectModerate impactHigh certainty
May be able to contribute more to their children's higher education savings and potentially receive a revised tax deduction.
“revise the maximum amount of contributions allowed per beneficiary of savings trust accounts for higher education expenses”· Article 11 of Chapter 3 of Title 20
“revise the deduction for contributions to savings trust accounts”· Code Section 48-7-27

What the Bill Does

Revises the maximum contribution amount per beneficiary for Georgia Higher Education Savings Plan accounts.
Revises the tax deduction for contributions made to these savings trust accounts.

Votes

Read full bill text →↓ Why am I seeing this?

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