North Carolina H787 revises the 529 Program by creating a matching contribution program and a tax deduction for contributions to qualified tuition.

North Carolina H787 amends the 529 Program by establishing a matching contribution program for eligible persons contributing to the Parental Savings Trust Fund. The State Education Assistance Authority will provide matching funds of $100 for every $50 contributed by an eligible person, up to $500 per year, with a maximum of $1,500 per qualifying student. The bill also creates a tax deduction for contributions to qualified tuition programs, up to $2,000 for individual taxpayers and $4,000 for married couples filing jointly.

North Carolina H787 revises the 529 Program by creating a matching contribution program and a tax deduction for contributions to qualified tuition.

North Carolina H787 amends the 529 Program by establishing a matching contribution program for eligible persons contributing to the Parental Savings Trust Fund. The State Education Assistance Authority will provide matching funds of $100 for every $50 contributed by an eligible person, up to $500 per year, with a maximum of $1,500 per qualifying student. The bill also creates a tax deduction for contributions to qualified tuition programs, up to $2,000 for individual taxpayers and $4,000 for married couples filing jointly.