From official state and federal legislative records. Informational only, not legal advice.
Just proposed
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Next: a committee studies it and decides if it moves forward.
In plain words
AI summaryWritten by AI from the bill text. Check the official text before relying on it.
529 college savings distributions. Excludes from Indiana adjusted gross income distributions made from a 529 college choice education savings plan (529 account) that are not used to pay qualified higher education expenses but that satisfy each of the requirements under Section 126 of the SECURE 2.0 Act of 2022. Provides that such distributions are not subject to the: (1) penalty provisions established by the board of directors of the Indiana education savings authority; or (2) repayment provisions for the income tax credit for contributions to an individual's 529 account.