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Ohio SB 5: Addressing College Affordability

Ohio SB 5: Addressing College Affordability

Introduced in January 2017, this bill increases the maximum income tax deduction that is allowed for contributions to a disability expense account or federally tax-advantaged college savings plan in Ohio. The legislation doubles the permitted maximum income tax deduction from $2,000 to $4,000 per year for each beneficiary. It also creates a Joint Committee on Ohio College Affordability to review and recommend strategies to lower the cost of attending college. The Joint Committee on Ohio College Affordability will consult with the Chancellor of Higher Education and representatives of colleges and universities when developing strategies to lower the cost of attending college in the state. The Committee will be made up of ten members, five of whom will be members of the Ohio Senate and five of whom will be members of the Ohio House of Representatives. Committee members will be appointed by the President of the Senate and the Speaker of the House of Representatives respectively. Neither one may appoint more than three members who belong to the same political party. As of September 2017, Senate Bill 5 had been referred to committee in the state House. No hearings have been scheduled.

Year of Publication: 
2017
Publication Type(s): 
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