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DE HB148
Bill
Status
4/26/2017
Primary Sponsor
Charles Paradee
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AI Summary
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Creates a new Delaware state income tax deduction of up to $2,500 per year for contributions to qualified 529 college savings plans as defined under federal law
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Establishes a separate state income tax deduction of up to $2,500 per year for contributions to qualified ABLE (Achieving a Better Life Experience) savings accounts for individuals with disabilities
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Delaware residents may claim these deductions regardless of whether they contribute to plans sponsored by Delaware or by other states, as long as the plans meet federal requirements
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Effective beginning with the 2017 tax year
Legislative Description
An Act To Amend Title 30 Of The Delaware Code Relating To College Savings And Able Savings Accounts.
Last Action
Assigned to Appropriations Committee in House
6/27/2017