Missouri commission to study 529 state tax parity

The Missouri Senate and House have established the Joint Interim Committee on Investments in Higher Education Savings Programs to study how 529 savings opportunities can be expanded for Missouri residents while maintaining the solvency of Missouri's own 529 savings program. Missouri taxpayers are offered an annual state tax deduction of up to $8,000 for contributions to the in-state 529 plan only. Attempts to extend the deduction to out-of-state 529 plans have so far not been successful. The commission is to report its findings by December 31, 2005.
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