SB 882 Modifies provisions of the Missouri Higher Education Savings Program
Sponsor: Hoskins
LR Number: 5755S.02T Fiscal Notes
Committee: Education
Last Action: 6/1/2018 - Signed by Governor Journal Page: S2519
Title: SS SB 882 Calendar Position: 6
Effective Date: August 28, 2018
House Handler: Bernskoetter

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Current Bill Summary


SS/SB 882 - This act modifies the Missouri Higher Education Savings Program to allow 529 MOST account holders to transfer money from such account to a Missouri ABLE account while retaining tax exempt status on any money transferred.

This provision is identical to a provision in the truly agreed to SS/HB 1744 (2018) and HCS/HB 2115 (2018).

This act additionally stipulates that funds held in 529 MOST savings account that are used at a designated elementary and secondary institution are considered a qualified education expense, permitting a taxpayer to receive a tax deduction for such expenses.

The act adds the Commissioner of Education to the membership of the Missouri Higher Education Savings Program Board.

SCOTT SVAGERA