State Rep. Trey Paradee has introduced a bill that would allow Delaware residents two new itemized deductions from personal income tax that promotes and encourages savings for college and for those with disabilities. The first deduction is a deduction from taxable income of up to $2,500 for contributions to a “529” College Savings Plan. The second is a deduction from taxable income of up to $2,500 for contributions to a “529A” Savings Account – a special account for meeting the needs of certain individuals with disabilities.
This bill has already been reported out of committee and is on the Ready List.
UPDATED: 6/8/17
SPONSORS: Paradee, Poore, Potter, Bonini, Walsh, Briggs King, Gray, Hensley, Mitchell
YES VOTES: HOUSE: _______________ SENATE:______________________
NO VOTES: HOUSE: _______________ SENATE:______________________
HISTORY: Reported out of the House Revenue & Finance Committee on 5/3/17.
STATUS: On Ready List in the House.
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