Alabama: College Savings Plan Bill Is Close To Final Approval (Associated Press)
"The state Legislature is one roll call away from providing a tax break to Alabama parents who save for their children's college expenses," the Associated Press reports. "But to enact the tax break, the Legislature also has to pass a separate bill that would raise even more money from out-of-state residents. On Wednesday, the Senate Finance and Taxation-Education Committee voted unanimously for a bill to provide a tax deduction for Alabama families making a contribution of up to $5,000 per year to either of Alabama's two state-sponsored college savings plan."
You can read the complete April 10, 2008 Associated Press article on-line.
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