Mississippi Legislature

2000 Regular Session

House Bill 1262

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Bill Text

History of Actions

Background

Title

Description: Mississippi Affordable College Savings (MACS) Program; create.

Bill Text: [Introduced] [Passed House]

History of Actions:

102/21/00(H)Referred To Universities and Colleges;Ways and Means
203/02/00(H)DR - TSDP: UC To WM
303/02/00(H)DR - TSDP: WM To UC
403/02/00(H)Title Suff Do Pass
503/10/00(H)Passed
603/13/00(H)Transmitted To Senate
703/17/00(S)Referred To Universities and Colleges;Appropriations
804/04/00(S)Died In Committee

Background Information:

Effective date** See Text
DispositionDead
DeadlineGeneral Bill/Constitutional Amendment
RevenueNo
3/5ths vote requiredYes

House Committees:

Senate Committees:

Principal Author: Gadd

Additional Authors: Reynolds, Bailey, Baker, Banks, Barbour, Barnett (116th), Barnett (92nd), Blackmon, Bowles, Broomfield, Brown, Cameron, Capps, Chism, Clark, Clarke, Coleman (29th), Coleman (65th), Compretta, Creel, Cummings, Davis, Dedeaux, Denny, Dickson, Eads, Eakes, Eaton, Ellington, Ellis, Ellzey, Espy, Evans, Fillingane, Flaggs, Fleming, Ford, Formby, Franks, Fredericks, Frierson, Gibbs, Green, Grist, Guice, Hamilton, Harrison, Henderson, Holland, Holloway, Horne, Howell, Huddleston, Hudson, Ishee, Janus, Jennings, Ketchings, Livingston, Lott, Malone, Maples, Markham, Martinson, Masterson, Mayo, McBride, McCoy, Middleton, Miles, Mitchell, Moak, Montgomery (15th), Montgomery (74th), Moody, Moore (100th), Moore (60th), Morris, Moss, Myers, Nettles, Nicholson, Peranich, Perkins, Pierce, Read, Reeves, Roberson, Robertson, Robinson (63rd), Robinson (84th), Rogers, Rotenberry, Rushing, Ryals, Scott (17th), Scott (80th), Shows, Simpson, Smith (27th), Smith (35th), Smith (39th), Smith (59th), Snowden, Stevens, Straughter, Stringer, Taylor, Thomas, Thornton, Wallace, Ward, Warren, Watson, Weathersby, Wells-Smith, West, Whittington, Woods, Young, Zuber

Code Sections: A 037-0155-0005, A 037-0155-0009, A 027-0007-0015, A 027-0007-0017, A 027-0007-0018, A 075-0071-0113, A 075-0071-0401

Title: AN ACT TO CREATE THE MISSISSIPPI AFFORDABLE COLLEGE SAVINGS (MACS) PROGRAM; TO DEFINE CERTAIN TERMS AND PHRASES RELATING TO THE MACS PROGRAM; TO PRESCRIBE THE POWERS OF THE BOARD OF DIRECTORS OF THE COLLEGE SAVINGS PLANS OF MISSISSIPPI TRUST FUNDS RELATING TO THE ADMINISTRATION OF THE MACS PROGRAM; TO PRESCRIBE CERTAIN TERMS OF SAVINGS TRUST AGREEMENTS ENTERED INTO UNDER THE PROGRAM; TO ESTABLISH THE MISSISSIPPI AFFORDABLE COLLEGE SAVINGS (MACS) TRUST FUND; TO EXEMPT PROPERTY IN THE TRUST FUND FROM TAXATION AND TO ESTABLISH DEDUCTIONS FOR PAYMENTS TO MACS ACCOUNTS; TO PRESCRIBE THE AUTHORITY OF THE BOARD OF DIRECTORS TO INVEST FUNDS IN THE TRUST FUND; TO REQUIRE THE BOARD TO PROVIDE ANNUAL ACCOUNTING STATEMENTS; TO AMEND SECTION 37-155-5, MISSISSIPPI CODE OF 1972, TO CHANGE THE NAME OF THE BOARD OF DIRECTORS OF THE MISSISSIPPI PREPAID AFFORDABLE COLLEGE TUITION PROGRAM TRUST FUND TO THE "BOARD OF DIRECTORS OF THE COLLEGE SAVINGS PLANS OF MISSISSIPPI TRUST FUNDS"; TO AMEND SECTION 37-155-9, MISSISSIPPI CODE OF 1972, IN CONFORMITY THERETO AND TO EXPAND THE BOARD'S INVESTMENT AUTHORITY; TO AMEND SECTION 27-7-15, MISSISSIPPI CODE OF 1972, TO EXCLUDE PAYMENTS TO A MACS ACCOUNT FROM THE DEFINITION OF GROSS INCOME FOR INCOME TAX PURPOSES; TO AMEND SECTIONS 27-7-17, 27-7-18, 75-71-113 AND 75-71-401, MISSISSIPPI CODE OF 1972, IN CONFORMITY TO THE PROVISIONS OF THIS ACT; AND FOR RELATED PURPOSES.


Information pertaining to this measure was last updated on 04/05/00 at 08:23.



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