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DE HB259

Bill

Official Source

Status

Introduced

6/30/2019

Primary Sponsor

Krista Griffith

Click for details

Origin

House of Representatives

150th General Assembly

AI Summary

  • Allow Delaware residents a tax deduction of up to $2,500 for contributions to qualified tuition programs (529 plans) as defined under 26 U.S.C. § 529.
  • Allow Delaware residents a tax deduction of up to $5,000 for contributions to qualified ABLE programs (529A accounts) as defined under 26 U.S.C. § 529A for individuals with disabilities.
  • Deductions apply regardless of whether the plans are sponsored by Delaware or another state or institution, provided they meet federal criteria.
  • Effective for tax year 2019 and subsequent years.

Legislative Description

An Act To Amend Title 30 Of The Delaware Code Relating To College Savings And Able Savings Accounts.

Last Action

Introduced in House and Assigned to Revenue & Finance Committee

6/30/2019

Committee Referrals

Revenue & Finance6/30/2019

Full Bill Text

No bill text available