Modifies provisions governing contributions to qualified tuition programs

Also relevant to:Student / education borrower

Where it is in the process

Plain-English Summary

This bill would exempt certain educational savings programs, including those established under Section 529 of the Internal Revenue Code, from state and local taxes. It also allows taxpayers to subtract a limited amount of their contributions to these programs from their Missouri adjusted gross income. If funds are withdrawn for non-educational purposes, they may be subject to state income tax.

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