SB 882 - Hoskins, Denny
Modifies provisions of the Missouri Higher Education Savings Program
Bill Details
Sponsor
Hoskins, Denny
LR Number
5755S.02T
Title
SS SB 882
House Handler
Journal Page
S2519
Effective Date
August 28, 2018
Committee
Current Status
Signed by Governor
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Amendments
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