Ohio 529 plans update
On Tuesday, the Ohio House Ways and Means Committee amended a bill (Senate Bill 22) to conform state tax law with recent federal changes. Among the amendments that were adopted, was a measure that would allow families to use 529 plans for K-12 educational expenses. Ohio also would incentivize educational savings with a $4000 tax deduction per account. The bill was passed by the full House on Wednesday and the Senate is expected to concur with the House changes soon.
Agudah Israel strongly supported this change that will assist families in choosing educational options.
Agudath Israel thanks Chairman Gary Scherer, Senator Peterson, and the Kasich Administration for supporting this important change.