SIA Submits Comments to the Arizona House Ways and Means Committee on the Deductibility of 529 College Savings Plans Contributions
Published on:
January 30, 2006
The Securities Industry Association (SIA)* provides comments to the Chairman of the Arizona State House Ways and Means Committee on the deductibility of 529 College Savings Plans (529 Plans) contributions from taxes. In particular, SIA strongly supports Arizona House Bill 2280, as amended. The legislation would allow Arizona residents who contribute to any qualified 529 Plan to deduct the amount of that contribution – up to a maximum of $2,000 per year or $4,000 per married couple filing jointly – from their gross income for state tax purposes.
*SIFMA is the product of a merge between the Securities Industry Association (SIA) and The Bond Market Association (TBMA) in 2006.