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LB 883: Direct Deposit of Tax Refunds to Educational Savings

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.

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