SAVINGS: Treasury suggests changes to 529 plans
The Treasury Department included recommended changes to Section 529 college savings plans in a recently issued report.
The Treasury Department included recommended changes to Section 529 college savings plans in a recently issued report. The recommendations include changing caps on account amounts to be per beneficiary instead of per beneficiary per state and eliminating the so-called home state bias. Some states give a tax credit to residents who invest in the state’s plan but not to out-of-state investors. For a look at the report, visit treas.gov/offices/economicpolicy/reports/09092009TreasuryReportSection529.pdf.
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