Plain English Breakdown
The official source material does not provide specific details about the nature or extent of the changes being made.
Changes to College Savings Program
This bill updates the Indiana529 college savings program to align with federal tax rules.
What This Bill Does
- Makes various changes to the state's Indiana529 plan to conform to Section 529 of the Internal Revenue Code.
Who It Names or Affects
- People who use the Indiana529 college savings program
- The state government of Indiana
Terms To Know
- Indiana529 Plan
- A college savings plan run by the state of Indiana to help families save for education expenses.
- Section 529 of the Internal Revenue Code
- Federal rules that set standards for tax-advantaged college savings plans.
Limits and Unknowns
- The bill does not specify exactly what changes will be made to the Indiana529 plan.
- It is unclear how these changes might affect users of the program until more details are provided.