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

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

Amendments