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HB 0802 - Revenue and taxation; deduction from income for contributions to savings trust accounts; revise

Tracking Level: Watch
Sponsor: Teasley, Sam 37th
Last Action: 5/3/2016 - House Date Signed by Governor
House Committee: W&M
Senate Committee: FIN
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Staff Analysis of the Legislation

SUMMARY:  LC 28 7812  Revises the income tax deduction for contributions to savings trust accounts.

POINTS TO CONSIDER:

  • extends deduction for contributors who file joint returns after January 1, 2016 to $4,000.

EFFECTIVE DATE:  Upon approval by the General Assembly and Governor.

 

Bill Summary from the State Site - Click for the State Summary Page / Click for Current Full Text