Post by Logan on Jun 19, 2016 0:17:55 GMT -6
College savings deduction included in Massachusetts panel's $594 million economic-development bill
BOSTON >> A scaled-down version of Gov. Charlie Baker's economic development bill cleared a key House-Senate committee on Wednesday and included a new provision that would allow families to claim a tax deduction on college savings.
The bill authorizes $593.9 million in capital investments over the next three years, a significant revision from the $918 million, five-year plan put forward by the governor in January. An administration official described the annual funding proposed in the new bill as "in line" with what Baker put forward, just over a shorter period of time.
Among the accounts that would receive a smaller guaranteed infusion of capital would be the MassWorks Infrastructure program, which Baker proposed to fund at $500 million over five years. Legislative leaders reduced it to $300 million over three years.
The Economic Development and Emerging Technologies Committee also lowered the amount set aside for a new workforce skills capital grants program to improve career technical education and job training from the $75 million proposed by Baker to $45 million.
Read more: www.berkshireeagle.com/news/ci_30032111/college-savings-deduction-included-massachusetts-panels-594-million
BOSTON >> A scaled-down version of Gov. Charlie Baker's economic development bill cleared a key House-Senate committee on Wednesday and included a new provision that would allow families to claim a tax deduction on college savings.
The bill authorizes $593.9 million in capital investments over the next three years, a significant revision from the $918 million, five-year plan put forward by the governor in January. An administration official described the annual funding proposed in the new bill as "in line" with what Baker put forward, just over a shorter period of time.
Among the accounts that would receive a smaller guaranteed infusion of capital would be the MassWorks Infrastructure program, which Baker proposed to fund at $500 million over five years. Legislative leaders reduced it to $300 million over three years.
The Economic Development and Emerging Technologies Committee also lowered the amount set aside for a new workforce skills capital grants program to improve career technical education and job training from the $75 million proposed by Baker to $45 million.
Read more: www.berkshireeagle.com/news/ci_30032111/college-savings-deduction-included-massachusetts-panels-594-million