Returning members of the State Senate are sworn in

15 Jun: Buono/Turner Bill Providing Income Tax Deduction For College Savings Plan Contributions Clears Committee

TRENTON – Legislation sponsored by Senators Barbara Buono and Shirley Turner to provide residents who save for their children’s college education through a state-administered college savings plan with a state income tax deduction for their investments was unanimously approved by the Senate Higher Education Committee yesterday.

“We must better help parents to save for their children’s college education,” said Senator Buono (D-Middlesex). “As the burden of education loans continues to skyrocket, many students may find it impossible to afford college without substantial family savings. By making NJ BEST contributions tax free, we will enable more families to put aside money for their children’s future.”