Introduced
by
To authorize broadening the investment options in the Michigan Education Savings Plan account program, which is a tax deferred college savings account program (a “529 plan”), contributions to which qualify for state and federal income tax deductions. The bill would also explicitly allow withdrawals from an MESP account to pay the cost of a student attending one of the U.S. service academies, including West Point, the Naval Academy at Annapolis, the Air Force Academy in Colorado Springs, the United States Coast Guard Academy, or the United States Merchant Marine Academy.
Referred to the Committee on Education
Reported without amendment
Without amendment and with the recommendation that the bill pass.
Passed in the House 103 to 0 (details)
Referred to the Committee on Finance
Reported without amendment
With the recommendation that the bill pass.
Amendment offered
To allow fund managers to annually charge up to 2.0 percent of net asset value, rather than 1.5 percent.
The amendment passed by voice vote
Passed in the Senate 34 to 0 (details)
To authorize broadening the investment options in the Michigan Education Savings Plan account program, which is a tax deferred college savings account program (a “529 plan”), contributions to which qualify for state and federal income tax deductions. The bill would also explicitly allow withdrawals from an MESP account to pay the cost of a student attending one of the U.S. service academies, including West Point, the Naval Academy at Annapolis, the Air Force Academy in Colorado Springs, the United States Coast Guard Academy, or the United States Merchant Marine Academy.
To concur with the Senate-passed version of the bill.
Passed in the House 108 to 0 (details)
