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HB1096

529 college savings distributions.

Latest bill text (Comm Sub) [PDF]

Summary

529 college savings distributions. Excludes from Indiana adjusted gross income distributions made from a 529 college choice education savings plan (529 account) that are not used to pay qualified higher education expenses but that satisfy each of the requirements under Section 126 of the SECURE 2.0 Act of 2022. Provides that such distributions are not subject to the: (1) penalty provisions established by the board of directors of the Indiana education savings authority; or (2) repayment provisions for the income tax credit for contributions to an individual's 529 account.

Authors

Authored by Representative PrescottCoauthored by Representatives Rowray and DeLaney

Fiscal Outlook

Title Description Date View
Fiscal NoteFiscal Note #1: Introduced2024-01-04 Click To View

History

Date Chamber Action
2024-01-16HouseRepresentative Manning added as coauthor
2024-01-08HouseFirst reading: referred to Committee on Ways and Means
2024-01-08HouseAuthored by Representative Prescott
2024-01-08HouseCoauthored by Representatives Rowray and DeLaney