As introduced: The bill would allow state income taxpayers receiving a refund to deposit a portion of the refund directly into an educational savings account.
Introducing Senator(s): Cook
Committee: Revenue Committee
Committee Hearing Date: February 24, 2012
Current Status: Indefinitely Postponed
Estimated Fiscal Impact: A one-time cost of $82,450 in General Funds.
Voices for Children Position: Support
The cost of higher education has been increasing along with student debt. It is becoming increasingly more important that families save for higher education. This bill would provide an easy way of encouraging that savings at a time when families may have additional funds available. Senator Cook introduced an interim study to further examine this issue.
