SB 1374 529 Contribution Tax Deductions

SB 1374 would provide a tax incentive for investments to a 529 ScholarShare Program by allowing for this deduction to qualified taxpayers.

There is a limit of $5000 for single filers and $10,000 for those who file jointly (per beneficiary).

The measure also caps the adjusted gross income level eligible for receiving the tax deduction at $100,000 for single filers and $200,000 for those who file jointly.