Ways and Means committee favorably reports tax deduction changes for 529 and ABLE contributions
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Summary
The House Ways and Means Committee voted unanimously to favorably report House Bill 48, which would modify state tax deductions for 529 college-savings plans and ABLE accounts; no public testimony was offered at the fifth hearing.
House Ways and Means Committee Chairman Romer and the committee voted unanimously to favorably report House Bill 48, a measure to modify tax deductions for contributions to 529 college-savings plans and Achieving a Better Life Experience (ABLE) accounts, during the committee’s fifth hearing.
The bill received no in-person testimony at the hearing. Chairman Romer said the bill was being advanced after multiple hearings, noting the committee’s practice of holding repeated hearings to “make sure all of the issues are identified in committee.”
Vice Chair Thomas moved to favorably report the bill. A roll call followed; committee members recorded unanimous support and the measure was approved to move forward.
No amendments or provisions were discussed on the record during this session, and the clerk was asked to circulate the roll for signatures before members left. The committee provided no further scheduling details for additional floor action at the close of the item.
The passage in committee represents a formal recommendation to the full House; the text of the bill and any fiscal notes were not discussed at length in this hearing and no witnesses provided testimony for the record.