California SB529 allows a tax deduction for contributions to a California qualified tuition program, aiming to reduce student loan debt and encourage.

California SB529 introduces a tax deduction for contributions to a California qualified tuition program, specifically Scholarshare accounts, to incentivize college savings and reduce student loan debt. The deduction is available for qualified taxpayers with adjusted gross income limits, with different caps for heads of household, surviving spouses, and other filers. The bill also mandates data collection and reporting on the program's impact, including the number of accounts opened and the total dollar amount of deductions allowed.

California SB529 allows a tax deduction for contributions to a California qualified tuition program, aiming to reduce student loan debt and encourage.

California SB529 introduces a tax deduction for contributions to a California qualified tuition program, specifically Scholarshare accounts, to incentivize college savings and reduce student loan debt. The deduction is available for qualified taxpayers with adjusted gross income limits, with different caps for heads of household, surviving spouses, and other filers. The bill also mandates data collection and reporting on the program's impact, including the number of accounts opened and the total dollar amount of deductions allowed.