Introduced
by
To establish an “enhanced educational savings account” program that would allow individuals to make tax-deductible contributions to an account that could be used to pay for public school extracurricular activities, vocational programs, or other services that schools are not required to provide, and which may require fees not be available at all without extra money.<br> Up to $5,000 in contributions would be tax deductible on state income tax returns, and $10,000 for joint filers. Unused money in an account when a student graduates from high school could be used for post-secondary education expenses. The bill is part of a package comprised of Senate Bills 544 to 549 which among other things task the Department of Treasury with managing the accounts, and the Department of Education with writing rules for public school participation and use of the money. This bill would amend the existing Michigan Education Savings Program law to accommodate the proposal.
Referred to the Committee on Education
Reported without amendment
With the recommendation that the bill pass.
Passed in the Senate 23 to 14 (details)
To expand a Michigan Education Savings Program law to accommodate a proposal that would allow individuals to make tax-deductible contributions to an account used to pay for public school extracurricular activities, vocational programs, or other services that schools are not required to provide. Note that while the Senate passed this and some related bills, it did not pass Senate Bill 549 to authorize the actual tax deductions, without which this and the other bills appear to be moot.
Referred to the Committee on Education Reform
Reported without amendment
Without amendment and with the recommendation that the bill pass.
