Reported by CommitteeFiled Feb 27, 2025
Sponsor: Jake Oliveira (D)
Latest Action
Bill reported favorably by committee and referred to the committee on House Ways and Means
Jul 2, 2026
Summary
The legislation amends state law to increase the deductible amount for 529 plan contributions, lifting the individual limit from $1,000 to $5,000 and the joint (married) limit from $2,000 to $10,000. This expands the tax benefit for families saving for education, making it more attractive to use 529 accounts. The change applies to any taxpayer filing a Massachusetts income tax return who contributes to a qualified 529 plan.
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