SB 667 Modifies the Missouri Higher Education Savings Plan
Sponsor: Scott
LR Number: 2544S.01I Fiscal Note: 2544-01
Committee: Financial & Governmental Organizations and Elections
Last Action: 3/5/2007 - Second Read and Referred S Financial & Governmental Organizations and Elections Committee Journal Page: S400
Title: Calendar Position:
Effective Date: August 28, 2007

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Current Bill Summary


SB 667 - This act authorizes a state tax deduction of up to $4,000 per taxpayer for contributions made to qualified educational savings programs sponsored by other states. No person can deduct more than $8,000, in the aggregate, in a fiscal year for contributions to a Missouri educational savings program or another state's educational savings program. Such programs must meet certain investor protection measures promulgated by the Missouri Higher Education Savings Program Board. Contributions and earnings in the program shall not be considered income when determining a student's eligibility for financial assistance under any state aid program.

This act is similar to SB 933 (2004) and SB 324 (2005).

CHRIS HOGERTY