Personal income taxes: deduction: 529 college savings plans: contributions.

The Personal Income Tax Law, in modified conformity with federal income tax laws, excludes from the gross income distributions or earnings of a beneficiary of, or a contributor to, a qualified tuition program, as provided, and contributions to a plan are not deductible in computing the income that is subject to the taxes imposed by that law. This bill, for taxable years beginning on or after January 1, 2019, would allow as a deduction under that law the lesser of (1) the amount contributed by a qualified taxpayer, as defined, to a qualified tuition program, as specified, or (2) $6,000 for spouses filing joint returns, heads of households, and surviving spouses, as defined, or $3,000 for a single individual or a spouse filing separately, as indexed for inflation. This bill would take effect immediately as a tax levy.