IL adds ABLE tax deduction
Illinois residents can now claim a tax deduction for up to $10,000 of contributions to qualified ABLE accounts for tax years beginning on or after January 1, 2018 before January 1, 2023.
529 News
Recent State News
Arkansas launches 529 GIFT Plan smartphone app
The new Arkansas GIFT Plan smartphone app allows users to check account balances, view transaction history, set up alerts, get the latest plan news and allow the plan to share important information with account owners.Those who download the app between July 1, 2018 and September 3, 2018 will be entered for a chance to win a $4,500 Disney vacation package. Learn more at www.arkansas529.org
California now excludes 529 plan assets when determining Medi-Cal eligibility
AB 1785 was signed by the Governor of California on July 18,2018. This legislation excludes the principal and interest of a 529 savings plan and qualified distributions from a 529 savings plan from consideration for purposes of any asset or resources or income test to determine eligibility for Medi-Cal benefits.
More State News
- Pennsylvania to offer $100 in college savings to new babies(07/02/2018)
- Oklahoma STABLE launches for OK residents(07/02/2018)
- The Kentucky Higher Education Assistance Authority issues RFP for investment manager(04/03/2018)
- Ohio doubles 529 state tax deduction for residents, increases rates on CDs(01/11/2018)
- New Mexico launching ABLE program January 18, 2018 (01/08/2018)
- The State of Washington is launching a new direct-sold 529 plan(10/22/2017)
- DC ABLE plan is now available for residents with disabilities(08/02/2017)
- Montana ABLE plan is now available for residents with disabilities(08/02/2017)
- Indiana ABLE plan is now available for residents with disabilities(07/30/2017)
- Louisiana ABLE plan is now available for residents with disabilities (07/03/2017)
- Minnesota introduces new state tax benefits for residents(06/29/2017)
- Pennsylvania voting to eliminate parity state tax deduction(06/17/2017)
- Illinois consolidates and improves its college savings lineup(06/15/2017)
- Wisconsin increases state tax deduction for residents(06/15/2017)
- Georgia launches STABLE plan for residents with disabilities(06/15/2017)
- Massachusetts, along with Fidelity, launches The Attainable ABLE Savings Plan(05/10/2017)
- Missouri becomes latest state to offer ABLE plan for people with disabilities(04/26/2017)
- Arkansas passes new laws to help college savers(04/17/2017)
- Arkansas now allows excess 529 contributions to be carried forward(04/05/2017)
- Idaho state tax deduction to increase for 2017(03/24/2017)
- Vermont launches STABLE plan (03/02/2017)
- Enable Alabama savings plan now available(03/02/2017)
- Enable Alabama to launch on February 27(02/17/2017)
- Kansas launches ABLE savings plan(02/02/2017)
- Nevada launches ABLE savings plan(02/02/2017)
- Illinois launches ABLE program(01/31/2017)
- Iowa launches IAble plan(01/31/2017)
- Minnesota launches ABLE plan(01/31/2017)
- North Carolina Launches NC ABLE Account (01/28/2017)
- Rhode Island launches RI's ABLE plan(12/30/2016)
- Alaska launches Alaska ABLE Plan(12/28/2016)
- Kentucky launches STABLE Accounts for residents with disabilities(12/28/2016)
- Oregon launches ABLE Savings Plan(12/15/2016)
- Oregon launches ABLEforAll plan(12/15/2016)
- Virginia launches ABLEnow plan (12/15/2016)
- DC College Savings Plan announces investment and program manager change(12/15/2016)
- Alabama to launch Enable Savings Plan for residents living with disabilities(12/01/2016)
- Illinois issues RFP for new advisor-sold 529 program manager(11/21/2016)
- Washington state issues RFP for new 529 savings plan(10/04/2016)
- Massachusetts approves income tax deduction for 529 plan contributions(08/22/2016)
- Nebraska to host activities and events to celebrate launch of the Enable Savings Plan(06/22/2016)
- MN gets tax deduction(06/02/2016)
- Washington to launch new college savings plan(04/12/2016)
- Nebraska announces upcoming launch of Enable Savings Plan(02/23/2016)
- Rhode Island selects Ascensus College Savings as program manager(11/18/2015)
- Michigan approves ABLE accounts and raises 529 plan limit(10/29/2015)
- Nebraska seeks program manager for ABLE Program(07/20/2015)
- Nevada passes tax credit for employers who match 529 contributions(07/14/2015)
- Missouri issues RFP for 529 program manager(07/08/2015)
- Tennessee provides matching TNStars 529 grant to low-income families(10/02/2014)
- NorthStar Financial Services Group to take over Texas 529 plans(09/04/2014)
- New Mexico seeks program manager for The Education Plan and Scholar's Edge(05/09/2014)
- Wisconsin governor signs law to extend 529 plan tax deduction benefits(04/14/2014)
- California bill proposes 20 percent tax credit(02/28/2014)
- Wisconsin bills set to strengthen 529 state tax deduction(02/18/2014)
- North Carolina to eliminate state tax deduction in 2014(11/13/2013)
- Arizona to increase 529 state income-tax deduction(06/26/2013)
- Nebraska Bill Will Allow Increased Deduction for College Savings Contributions(06/03/2013)
- Montana enacts state tax parity for 529 deduction (05/17/2013)
- Oregon removes its one-plan restriction(05/17/2013)
- Wisconsin 529 plans transition to TIAA-CREF and ING(10/12/2012)
- South Carolina Releases Revised 529 Plans(10/01/2012)
- Tennessee announces new college savings plan(09/18/2012)
- Texas seeks new manager for 529 savings and prepaid plans(08/31/2012)
- South Carolina to stay with Columbia as 529 manager(07/23/2012)
- ING to take on Wisconsin advisor-sold 529(06/05/2012)
- Wisconsin selects TIAA-CREF to manage 529 plan(05/21/2012)
- Arizona makes 529 tax deduction permanent(04/03/2012)
- Nebraska announces upcoming changes to its 529 plans(03/24/2012)
- Wisconsin issues RFP for 529 program manager(02/22/2012)
- MFESP announces $1,000 Montana Monthly Education Savings Award (02/01/2012)
- New Jersey Governor vetoes 529 tax deduction bill(01/18/2012)
- Wells Fargo to leave 529 manager role in Wisconsin(01/12/2012)
- South Carolina seeking bidders to manage 529 programs(11/23/2011)
- California to shut down its advisor-sold 529(10/13/2011)
- Wisconsin allows certain 529 non-owners to deduct contributions(07/20/2011)
- New York 529 decides to keep Upromise/Vanguard, add JPMorgan(07/07/2011)
- TIAA-CREF wins bid for California 529(06/14/2011)
- Fidelity declines to re-bid for California 529 plans(06/13/2011)
- North Dakota to launch the Children FIRST Program(05/24/2011)
- North Carolina eliminates scheduled income limits(05/24/2011)
- Indiana launches CD 529 program with College Savings Bank(04/18/2011)
- California seeking bids for 529 program manager(03/24/2011)
- Only the account owner may claim the Wisconsin 529 deduction(03/10/2011)
- Nevada's Columbia 529 completes asset transfer to Putnam plan(03/03/2011)
- Missouri will retain Upromise Investments as 529 manager(02/08/2011)
- Hawaii bill provides tax credit for 529 savers(01/27/2011)
- NJ bill would provide state tax deduction for NJBEST(01/26/2011)
- Indiana 529 adding FDIC-insured CDs(01/14/2011)
- Indiana to Launch New 529 Savings Plan(01/12/2011)
- Georgia 529 to terminate partnership with Tennessee(01/10/2011)
- Mississippi issues RFP for 529 program manager(01/04/2011)
- New York issues RFP for 529 program manager(12/22/2010)
- "Bank takes college savings reins"(12/21/2010)
- Tennessee Department of Treasury will soon offer matching funds(11/22/2010)
- Hartford to manage CHET Advisor plan(10/07/2010)
- Oklahoma 529 College Savings Plan reduces fees and expands options.(10/04/2010)
- Putnam Investments selected program manager for Nevada's national advisor-sold plan(09/16/2010)
- Missouri removes 12-month minimum holding period on 529 funds(06/15/2010)
- Nebraska 529 enters into 7-year contract with First National Bank(06/03/2010)
- Rhode Island 529 renews contract with AllianceBernstein(06/03/2010)
- Putnam to depart Ohio 529, assets go to BlackRock(05/14/2010)
- TIAA-CREF retains Connecticut 529 management contract(04/12/2010)
- OppenheimerFunds 529 is closed, assets transferred(03/30/2010)
- Idaho changes recapture provision on rollovers(03/18/2010)
- Utah tweaks state tax treatment for 529 plan(03/02/2010)
- Pacific Life Funds to exit as Montana program manager(02/26/2010)
- Union Bank to replace Van Kampen as Alabama 529 manager(02/26/2010)
- Special settlement website for IL Bright Start account owners(02/10/2010)
- Nebraska chooses First National to replace Union Bank as 529 manager(01/12/2010)
- OppenheimerFunds and Illinois settle for $77 million(12/22/2009)
- OppenheimerFunds and New Mexico settle for $67.3 million(12/16/2009)
- Michigan launches advisor 529(12/03/2009)
- CA: Fidelity cuts 529 manager fee(12/02/2009)
- NH: Fidelity cuts 529 manager fee(12/02/2009)
- OppenheimerFunds and Oregon settle for $20 million(11/20/2009)
- Colorado launches new 529 through FirstBank(11/10/2009)
- Michigan allows deduction for charitable contributions to prepaid tuition fund(11/09/2009)
- Michigan to unveil broker 529 plan from TIAA-CREF, Allianz(10/28/2009)
- Oklahoma issues RFP for 529 program manager(10/09/2009)
- Vermont to enhance 529, stay with TIAA-CREF(10/09/2009)
- Ohio launches new adviser 529 with BlackRock(10/07/2009)
- Alabama issues RFP for 529 program manager(09/03/2009)
- Illinois adopts tax recapture rule(08/13/2009)
- Illinois gives tax credit to employers for 529 matching contributions(08/13/2009)
- AIM 529 set to close down(08/05/2009)
- Massachusetts decides to keep Fidelity as program manager(07/28/2009)
- Nebraska issues RFP for 529 program management(07/06/2009)
- Indiana 529 credit does not apply to rollovers(07/02/2009)
- BlackRock reported as choice for new Ohio 529(06/29/2009)
- Connecticut issues RFP for 529 plan manager(06/15/2009)
- OppenheimerFunds to exit Oregon at year's end(06/10/2009)
- Massachusetts to bid out 529 program management(04/14/2009)
- Oregon sues OppenheimerFunds for 529 losses(04/14/2009)
- Oklahoma adds adviser-sold 529 savings plan(04/08/2009)
- Oregon issues RFP for program manager of direct 529(04/01/2009)
- Bill introduced for new prepaid tuition plan in Oregon(03/31/2009)
- Colorado solicits manager bids for direct 529(03/26/2009)
- Oklahoma to add an adviser 529 plan(03/12/2009)
- Illinois issues 529 deduction guidance(03/04/2009)
- Minnesota to make 529 manager selection(02/06/2009)
- Hawaii introduces 529 tax deduction bill(02/01/2009)
- Kentucky issues RFP for 529 program manager(01/20/2009)
- "Nev.'s lieutenant gov. indicted over college fund" (12/04/2008)
- Ohio issues RFP for broker-sold plan(11/04/2008)
- Vermont accepting bids for 529 program manager(10/20/2008)
- Indiana re-launches 529 plans with Upromise(10/02/2008)
- Texas rolls out new prepaid plan(09/12/2008)
- SEC denies request for "no action" on Missouri bank 529(08/20/2008)
- Ohio to add a second adviser 529 plan(08/06/2008)
- Missouri extends tax break to non-Missouri 529s(07/14/2008)
- Indiana's transition from JPMorgan to Upromise begins(07/08/2008)
- Over $1 million placed in Oklahoma 529 as part of seven-year study(06/09/2008)
- New York 529 plans to accept contributions from nonowners(05/27/2008)
- Michigan looks to add a broker-sold 529(05/26/2008)
- Alabama to approve tax deduction for in-state 529(05/20/2008)
- Maryland to add broker 529 plan; modify tax deduction(05/19/2008)
- New Mexico removes resident one-year hold(04/28/2008)
- West Virginia consolidates broker 529s(04/17/2008)
- DC to increase maximum deduction amount(03/27/2008)
- Utah 529 eliminates age rules, resident-tuition benefit(03/21/2008)
- New Mexico to consolidate adviser-sold 529s(03/18/2008)
- Annual account fees removed from Kansas 529 plans(03/18/2008)
- Alabama bills to provide deduction, remove out-of-state penalty(03/17/2008)
- Tennessee to close down 529 savings plan(02/18/2008)
- Maine babies to get 529 boost from Alfond Foundation(01/08/2008)
- Michigan amends state tax deduction rule(12/27/2007)
- Indiana taps Upromise to manage 529 plan(12/04/2007)
- Upromise Investments, Inc. makes Ugift service available for Nevada 529 accounts(11/28/2007)
- Texas and OppenheimerFunds ready new 529 plans(11/09/2007)
- Arizona issues 529 plan audit findings (10/31/2007)
- Improvements in place for West Virginia 529 plans(10/11/2007)
- Pennsylvania re-brands its plans with "nowU"(09/24/2007)
- Arizona to transfer Pacific Life 529 assets(08/24/2007)
- Illinois Governor signs bill with asset protection for 529 savings(08/22/2007)
- Arizona to transfer remaining SM&R 529 assets(08/21/2007)
- Illinois removes its tax penalty on non-IL 529 plans(08/06/2007)
- North Carolina enhances 529 deduction(08/03/2007)
- Oregon to increase 529 deduction in 2008(08/03/2007)
- OppenheimerFunds wins bid for Texas 529(06/28/2007)
- North Dakota to offer 529 matching contributions(06/28/2007)
- Arizona enacts 529 tax deduction starting 2008(06/27/2007)
- Wisconsin subs money market for stable value, reducing expenses(06/17/2007)
- Indiana issues RFP for 529 program manager(06/13/2007)
- Nebraska hikes 529 tax deduction limit(05/30/2007)
- Indiana enacts 529 tax recapture(05/20/2007)
- Georgia changes tax deduction limits(05/18/2007)
- Fees drop in Kansas 529 programs(05/16/2007)
- Oklahoma adopts 529 recapture rules(05/15/2007)
- Texas eyeing new prepaid tuition plan(05/15/2007)
- Texas seeking new 529 savings program manager(05/01/2007)
- Virginia annual deduction cap to increase in 2009(04/30/2007)
- Washington places cap on tuition increases(04/21/2007)
- North Dakota enacts tax deduction for 529 contributions(04/16/2007)
- Arkansas to develop a 529 matching contribution program(04/14/2007)
- Idaho changes law to require recapture on rollover(04/03/2007)
- Article: Bill approved in North Dakota brings state income tax benefits(03/24/2007)
- Pennsylvania's adviser-sold 529 plan to close(03/17/2007)
- Utah enacts 529 credit against new flat tax(03/16/2007)
- RI tax form instructions incorrectly describe 529 deduction(03/07/2007)
- Article: Food producer agrees to contribute to Iowa college savings plans(01/25/2007)
- Michigan to retain TIAA-CREF as 529 manager(01/18/2007)
- Wisconsin changes fund mix, reducing costs(01/15/2007)
- Pacific Life's Arizona 529 enters transition mode(01/05/2007)
- PA releases 529 tax guidance(12/21/2006)
- Vermont issues guidance on 529 state tax credit(12/21/2006)
- Alabama treasurer to push for state deduction for 529 contributions(12/01/2006)
- Upromise and Vanguard take over in PA's direct 529(11/20/2006)
- Texas Commission: prepaid tuition plan should re-open(11/19/2006)
- American Century wins bid to stay as Kansas program manager(11/16/2006)
- Upromise becomes new plan manager of ND 529(10/25/2006)
- Utah's new flat tax does not allow UESP deductions(10/04/2006)
- Utah reverses stance on married couple tax deduction(09/01/2006)
- Conn. rules against deduction on rollover contributions(08/21/2006)
- Utah rules on state tax treatment of rollovers(08/21/2006)
- North Carolina raises deduction limits in 2007(08/15/2006)
- Legg Mason 529 plan to close(08/10/2006)
- Kansas issues program manager RFP(07/20/2006)
- Missouri adopts 12-month holding period for 529 plan contributions(07/20/2006)
- North Carolina enacts tax deduction for 529 contributions(07/12/2006)
- Article: Wyoming ends college savings plan(07/12/2006)
- Wyoming to close its 529 plan, encourages rollovers to Colorado(07/11/2006)
- Pennsylvanians can now deduct contributions to any 529 plan(07/05/2006)
- Pennsylvania House passes 529 deduction with parity(06/14/2006)
- North Carolina advances 529 deduction bill(06/14/2006)
- Article: Plans offer new tuition incentive(06/13/2006)
- Vermont increases state tax credit for 529 contributions(06/07/2006)
- Oklahoma's deduction contribution deadline is extended(05/25/2006)
- Kansas Governor approves 529 deduction for out-of-state 529 plans(05/23/2006)
- Kansas pilot program will match contributions of lower-income families(05/22/2006)
- Connecticut governor approves state tax deduction for 529 contributions(05/08/2006)
- Article: Plan proposed to help low-income families save for college(04/30/2006)
- Missouri Treasurer proposes matching grants for 529 participants(04/24/2006)
- Fidelity wins bid for California 529 manager selection(04/15/2006)
- Article: Maine offers tax deduction to eligible contributors of 529 plan(04/06/2006)
- Maine enacts 529 tax deduction for contributions to any 529 plan(03/31/2006)
- Article: Ohio Tuition Trust Authority raises rates(03/26/2006)
- Indiana enacts state tax credit for 529 contributions(03/23/2006)
- Alabama Governor signs 529 exemption bill(02/13/2006)
- Tax deduction parity bill moves forward in Kansas(02/07/2006)
- Alabama passes bill to exempt 529 distributions(02/03/2006)
- Arizona bill provides state tax deduction for 529 contributions(01/31/2006)
- New York rules that rollovers and Upromise rewards are deductible(01/19/2006)
- Article: Increase in opening of accounts for Utah Education Savings Plan(01/16/2006)
- Deduction for college fund urged(01/16/2006)
- Article: Arizona trying to improve 529 college savings plan (01/07/2006)
- Missouri to switch from TIAA-CREF to Upromise(01/05/2006)
- Wells Fargo retains manager role in Wisconsin(12/23/2005)
- Pennsylvania RFP issued for TAP 529 manager(12/08/2005)
- Article: Utah seeks funds for college loan aid(12/04/2005)
- Article: Rhode Island's CollegeBoundFund receives favorable rating(11/23/2005)
- Wisconsin issues RFP for 529 manager(10/21/2005)
- Wisconsin tax parity bill passes Finance Committee(09/30/2005)
- T Rowe Price to retain Maryland 529 management(09/16/2005)
- Missouri issues RFP for 529 program manager(09/13/2005)
- Virginia rules grandparent cannot deduct 529 contributions(08/02/2005)
- North Dakota issues RFP for new 529 plan manager(07/06/2005)
- Bill clarifying transfer tax exemption goes to TN Governor(06/21/2005)
- Oklahoma amends state income tax deduction for contribution(06/10/2005)
- Missouri commission to study 529 state tax parity(05/19/2005)
- Mississippi conforms to federal exclusion for non-Mississippi 529s(05/17/2005)
- American Skandia 529 plan closes(05/10/2005)
- Former Utah director pleads guilty(05/01/2005)
- Rhode Island tax parity bill is held back(04/20/2005)
- Arkansas creates deduction for 529 contributions(04/14/2005)
- Missouri bill would extend deduction to out-of-state 529 plans(02/24/2005)
- Wisconsin introduces bill to extend tax deduction to out-of-state 529s(02/24/2005)
- Oregon's 529 plan with Federated Investors is closed(02/09/2005)
- Federated Investors 529 plan shuts down(02/04/2005)
- NM adviser-sold 529 is closed(02/01/2005)
- Over 67,000 PA 529 participants enroll in SAGE program(01/31/2005)
- North Carolina closing its adviser 529 channel(12/20/2004)
- Wells Fargo to take over Wisconsin 529(12/13/2004)
- Wells Fargo to take over Wisconsin 529(12/13/2004)
- Program manager for The Education Plan to change(12/08/2004)
- Program manager of Scholar'sEdge to change(12/08/2004)
- Michigan deduction and recapture rules are modified(12/01/2004)
- Utah 529 director misdeeds are detailed(10/26/2004)
- JP Morgan 529 ceases to operate(09/04/2004)
- The Strong 529 Plan shuts down(08/25/2004)
- Michigan bill would permit tax deduction to continue following a withdrawal(08/16/2004)
- Arizona makes changes to 529 enabling statute(08/10/2004)
- Illinois state benefits to be reduced(07/26/2004)
- Kansas increases deduction limits in 2005(06/17/2004)
- Ohio to issue RFP for bank products in its 529 plan(06/07/2004)
- Missouri Senate passes bill to create new savings program - UPDATE(05/21/2004)
- Tennessee now treats all 529s equally(05/20/2004)
- Effort fails to extend Missouri tax deduction to non-Missouri 529s(05/13/2004)
- Iowa law mandates a new broker 529(05/10/2004)
- Tennessee bill would exempt all 529 plans - Update(05/07/2004)
- Wisconsin extends tax deduction to great-grandparents, aunts, and uncles(04/21/2004)
- ScholarShare to force mutual fund reporting reforms(04/11/2004)
- JP Morgan 529 to be phased out(03/24/2004)
- Wisconsin to reduce EdVest 529 fees(02/23/2004)
- Oregon selects OppenheimerFunds to replace Strong(02/19/2004)
- State officials mulling closure of Wyoming 529(02/17/2004)
- Arizona House committee approves tax deduction for 529 contributions(02/17/2004)
- Bills introduced in RI to expand deduction to non-RI 529s(02/15/2004)
- Maryland bill would extend tax deduction to out-of-state 529s(02/14/2004)
- Virginia bill proposes to tax out-of-state 529 plans(02/09/2004)
- Missouri considering bills to open deduction to non-Missouri 529s(01/28/2004)
- Wisconsin bill to open up deductions is moving along(01/23/2004)
- MFS, Schoolhouse bid to replace Strong in Oregon 529(01/20/2004)
- Ohio issues RFP for additional investment managers(12/15/2003)
- Ohio keeps Putnam, takes steps to diversify(12/08/2003)
- Rhode Island 529 sticks with Alliance Capital(12/03/2003)
- Oregon votes to fire Strong as program manager(11/25/2003)
- New York details 529 program changes(11/08/2003)
- Texas residents gain creditor protection for all 529 assets(10/10/2003)
- Louisiana 529 changes signed into law (10/01/2003)
- New York 529 plan is improved(09/29/2003)
- New York Governor signs 529 improvement bill(09/29/2003)
- New Kansas multi-manager plan now available(09/03/2003)
- New York to replace TIAA as program manager(08/01/2003)
- Maine removes tax on residents in non-Maine 529s(06/25/2003)
- Vermont adopts tax credit for 529 contributions(06/16/2003)
- Nevada passes 529 creditor protection(06/15/2003)
- NH adopts exclusion for all qualified 529 distributions(05/28/2003)
- Oklahoma 529 accounts given protection from creditors(05/01/2003)
- Governor signs fixes to Idaho 529 plan(02/17/2003)
- New stable value program opens in Colorado(01/15/2003)
- New York will impose tax on outbound rollovers(10/22/2002)
- MA conforms to federal 529 treatment(07/29/2002)
- Illinois law restricts tax benefits to in-state 529(07/12/2002)
- Maryland Governor vetoes bill permitting wider deductibility(05/16/2002)
- New Jersey to add a prepaid tuition plan(12/13/2001)
- New York program receives favorable determination from IRS(08/27/2001)
- Indiana 529 plan receives IRS qualification(06/12/2001)
- Arizona, New Hampshire receive IRS approvals (04/29/2000)