Establishes the New York state pre-paid tuition plan for tax-free pre-payment of college tuition.

The bill establishes the New York state pre-paid tuition plan, allowing individuals to contribute to an account for the pre-payment of college tuition, tax-free. The state comptroller is tasked with administering the plan, including developing and implementing programs for the pre-payment of undergraduate tuition at a fixed rate. Contributions can be made in cash, and four years must elapse before the first qualified withdrawal for tuition expenses.

Establishes the New York state pre-paid tuition plan for tax-free pre-payment of college tuition.

The bill establishes the New York state pre-paid tuition plan, allowing individuals to contribute to an account for the pre-payment of college tuition, tax-free. The state comptroller is tasked with administering the plan, including developing and implementing programs for the pre-payment of undergraduate tuition at a fixed rate. Contributions can be made in cash, and four years must elapse before the first qualified withdrawal for tuition expenses.