UW System Position on Bills Introduced in the Legislature During the 2005-2006 Session
Income tax deduction for 529 contribution
(Nass) Allows an individual income tax deduction for certain amounts contributed to any section 529 college tuition program.
Referred to Joint Survey Committee on Tax Exemptions.
UW System Position
SUPPORT: The exemption would encourage more savings for higher education. In tight fiscal times, the value of this tax credit approach must be weighed against direct appropriation of state grant funds for low income students.