Krista Griffith
- Democratic
- Representative
- District 12
Primary
This Act will allow Delaware residents two new deductions from personal income tax. The first is a deduction from taxable income of up to $1,000 for contributions to an account in a Delaware-sponsored qualified tuition program, as that term is defined under 26 U.S.C. § 529 (a “529” College Savings Plan). The second is a deduction from taxable income of up to $5,000 for contributions to an account in a Delaware-sponsored ABLE program, as that term is defined under 26 U.S.C. § 529A (a “529A” Savings Account - a special account for meeting the needs of certain individuals with disabilities). The 529 and 529A deduction is only applicable to the Delaware-sponsored plan. A transfer or rollover from another account authorized under 26 U.S.C. §§ 529 and 529A or for a change in beneficiary of any such account does not qualify for the deduction. This Act takes effect on the date the Secretary of Finance provides written notice to the Registrar of Regulations that the Division of Revenue has implemented the personal income tax release of the Internal Revenue Administration System.
Signed by Governor
Passed By Senate. Votes: 21 YES
Reported Out of Committee (Finance) in Senate with 1 Favorable, 4 On Its Merits
Amendment HA 4 to HB 145 - Passed In House by Voice Vote
Passed By House. Votes: 39 YES 1 NO 1 ABSENT
Reported Out of Committee (Appropriations) in House with 3 Favorable, 2 On Its Merits
Amendment HA 4 to HB 145 - Introduced and Placed With Bill
Amendment HA 3 to HB 145 - Introduced and Placed With Bill
Amendment HA 2 to HB 145 - Introduced and Placed With Bill
Amendment HA 1 to HB 145 - Introduced and Placed With Bill
Reported Out of Committee (Revenue & Finance) in House with 4 Favorable, 6 On Its Merits
Introduced and Assigned to Revenue & Finance Committee in House
| Bill Text Versions | Format |
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| Bill Text | PDF HTML |
| HA 4 to HB 145 | HTML PDF |
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| Fiscal Note |
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