Missouri bill would extend deduction to out-of-state 529 plans

S.B. 324 would specifically exclude from Missouri taxable income any qualified distributions from state-sponsored tuition savings programs "similar" to Missouri's 529 savings programs. The bill would also extend the current state income tax deduction of up to $8,000 per year for Missouri 529 contributions to such similar programs in other states. S.B. 324 was introduced on February 8, 2005 by Senator Delbert Scott.
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