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Gaines Introduces College Savings Bill

Posted: Feb. 21, 2018 6:09 PM PST

Hoping to help families save more for college, Nevada County’s State Senator has introduced a bill at the state capitol. Ted Gaines says the measure would expand the so-called 529 savings plan…

click to listen to State Senator Gaines

Gaines says the legislation will make contributions to 529 plans of up to 20-thousand dollars per year tax deductible in the state…

click to listen to State Senator Gaines

Gaines says California is currently one of only nine states that do not offer a state income tax deduction or tax credit for contributions to the 529 plan. He says tuition and related costs at both the University of California and California State University systems have tripled over the last 15 years.

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