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2007 SESSION

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SB 785 Income tax, state; increases deduction for prepaid tuition contract, etc. with College Savings Plan.

Introduced by: J. Brandon Bell, II | all patrons    ...    notes | add to my profiles

SUMMARY AS INTRODUCED:

Income tax deduction; Virginia College Savings Plan.  Increases from $2,000 to $4,000 the annual income tax deduction allowed for purchases and contributions for prepaid tuition contracts or savings trust accounts entered into with the Virginia College Savings Plan. The increase would become effective for taxable years beginning on or after January 1, 2009.


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