Bill Text: NY J00143 | 2023-2024 | General Assembly | Introduced

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Bill Title: Memorializing Governor Kathy Hochul to proclaim May 29, 2023, as 529 College Savings Day in State of New York

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Passed) 2023-01-10 - ADOPTED [J00143 Detail]

Download: New_York-2023-J00143-Introduced.html

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Senate Resolution No. 143

BY: Senator PARKER

        MEMORIALIZING  Governor  Kathy  Hochul to proclaim
        May 29, 2023, as 529  College  Savings  Day  in  the
        State of New York

  WHEREAS,  It  is  the  custom  of this Legislative Body to recognize
official days that are set aside to increase awareness on the importance
of an educational investment plan to the citizens of New York State; and

  WHEREAS, Attendant to such concern, and  in  full  accord  with  its
long-standing  traditions,  this  Legislative  Body  is  justly proud to
memorialize Governor Kathy Hochul to proclaim Sunday, May 29,  2023,  as
529  College  Savings  Day in the State of New York, in conjunction with
the observance of National 529 College Savings Plan Day; and

  WHEREAS, With nearly 70% of Americans unsure of what a 529 plan  is,
May  29th  has been designated as National 529 Savings Day and serves to
raise awareness on the benefits of a 529 investment plan; and

  WHEREAS, A 529 College Savings program is a college tuition plan for
children which is tax-free both on savings and investments, as  long  as
it  is  used for qualified expenses and does not have income limitations
on contributors; and

  WHEREAS, With all 50 states and the District of Columbia offering at
least one 529 plan, many states offer a tax deduction to those  who  use
their state's plan; and

  WHEREAS,  Many  states  are  promoting  May  29 (5/29) as a day with
special meaning, and are looking to boost interest and participation  in
their  529  savings  programs  with  various  sweepstakes,  contests and
incentives; and

  WHEREAS, It is imperative that there be  greater  awareness  of  529
College Savings Plans, and more must be done to increase activity at the
local, State and National levels; now, therefore, be it

  RESOLVED,  That  this Legislative Body pause in its deliberations to
memorialize Governor Kathy Hochul to  proclaim  May  29,  2023,  as  529
College Savings Day in the State of New York; and be it further

  RESOLVED,  That  a  copy  of this Resolution, suitably engrossed, be
transmitted to The Honorable Kathy Hochul, Governor of the State of  New
York.