California Treasurer Ma and Assembly Majority Leader Calderon seek income tax deductions for contributors to state’s 529 college savings plan
A bill that would offer a targeted tax incentive for those contributing to the state’s ScholarShare 529 Plan got a big boost with the introduction of Assembly Bill 211 (AB 211).
AB 211, authored by Assembly Majority Leader Ian Calderon and sponsored by Treasurer Ma, would provide a state income tax deduction when an individual contributes to one or more ScholarShare 529 accounts up to a limit of $5,000 for single taxpayers and $10,000 for those who file jointly.
Return to 529 News centerAB 211, authored by Assembly Majority Leader Ian Calderon and sponsored by Treasurer Ma, would provide a state income tax deduction when an individual contributes to one or more ScholarShare 529 accounts up to a limit of $5,000 for single taxpayers and $10,000 for those who file jointly.