Most Active Stories
- "More Bridges to Cross..."
- "My favorite story..." by Kathryn Tucker Windham's daughter...
- 'Biblical marriage' rally planned in Dothan
- Charter school bill in House, prison reform bill headed to Senate, and kids "Kick Butts"
- Madison police officer trial moved up, Kick Butts Day, Charter school legislation
Wed February 23, 2005
Committee Approves College Savings Bill
By Alabama Public Radio
Montgomery, AL – The Senate Finance and Taxation-Education Committee approved a bill Wednesday that would exempt Alabama's college savings plan from state income taxes. A similar bill has already received House approval. Legislators are responding to a report by the Morningstar fund rating agency. It listed Alabama's college savings plan as one of the top five worst in the country because the state taxes withdrawals. State Treasurer Kay Ivey says the corrective legislation will encourage more people to begin saving for their children's college education.