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WASHINGTON, D.C. (December 18, 2015) – Today, Congress gave final approval to legislation that makes important enhancements to 529 college savings plans. The three provisions, which were contained in H.R. 529 and S. 335, were included as part of a Congressional proposal to restore expired tax provisions. Betty Lochner, chair of the College Savings Plans … Read the full article …

State Treasurer and PACT Board Chair Young Boozer announced that at their regularly scheduled board meeting today directors of the Alabama PACT (Prepaid Affordable College Tuition) Program approved a 3.0% increase to the rate paid by the PACT Program for tuition and fees effective fall semester 2015. Under the 2011 Class Action Settlement Agreement, PACT … Read the full article …

State Treasurer and Chairman of the Penny Trust Fund Board of Directors Young Boozer announced that the board of the Penny Trust Fund met to approve applications for fiscal year 2015 disbursements of $207,206.14 each to the Departments of Public Health and Education. The board approved a proposal from the Department of Public Health to … Read the full article …

State Treasurer Young Boozer is pleased to announce the creation of the Alabama ABLE Plan that will provide a tax-free vehicle for saving for certain Alabamians who have disability-related expenses. In December 2014, Congress approved the Achieving a Better Life Experience (“ABLE”) Act authorizing state-sponsored tax-exempt savings accounts for disability-related expenses. The Alabama legislature passed … Read the full article …

The U.S. House of Representatives passed HR529, sponsored by Reps. Lynn Jenkins (R-KS) and Ron Kind (D-WI), by a vote of 401-20. This legislation contains three important provisions to improve plans for families saving for college. First, it clarifies that computer technology and equipment are a qualified higher education expense. Second, it removes distribution aggregation … Read the full article …

Yesterday, NAST sent the letter below, signed by NAST President, Treasurer David Lillard; NAST Senior Vice President, Treasurer James McIntire; CSPN Chair Betty Lochner; and CSPN Vice Chair, Treasurer Young Boozer, in support of House passage of HR529. NAST and CSPN have worked tirelessly on this legislation which we expect the House to consider and … Read the full article …

American families continue to believe that college is an investment in a child’s future. With more than 12 million accounts open nationwide, 529 college savings plans have proven to be a successful way for families to make that investment. These plans are manageable, affordable, and tax-advantaged and can be used towards qualified expenses at colleges, … Read the full article …

President Obama, facing angry reprisals from parents and from lawmakers of both parties, will drop his proposal to end popular college savings accounts known as 529s, but will keep an expanded tuition tax credit at the center of his college access plan, the White House said Tuesday. –National Association of State Treasurers

Recently the President has proposed to make changes to the tax treatment of college savings plans. One of these would take 529 plans back to 2001 and treat the earnings for college taxable at the child rate. The College Savings Plans Network, or CSPN, of which I am the Vice Chair, has stated that it … Read the full article …

State Treasurer Young Boozer won the corn shucking contest at the annual C. Mac Johnson Farmers Market Day on Saturday, July 12, 2014. State Treasurer Wins Corn Shucking Contest.

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