Amendment AA1-AB298

LRBa0437/1

MES:cjs:pg

2001 - 2002 LEGISLATURE

ASSEMBLY AMENDMENT 1, TO 2001 ASSEMBLY BILL 298

April 17, 2001 - Offered by Committee on Colleges and Universities.

AB298-AA1,1,1 At the locations indicated, amend the bill as follows:

AB298-AA1,1,4 1. Page 1, line 4: after "program" insert "and limiting the deductibility of total parental contributions to a college savings account and a college tuition and expenses program".

AB298-AA1,1,6 2. Page 2, line 1: after "statutes" insert ", as created by 1999 Wisconsin Act 44,".

AB298-AA1,1,7 3. Page 2, line 5: after that line insert:

AB298-AA1,1,9 " Section 1m. 71.05 (6) (b) 32. a. of the statutes, as created by 1999 Wisconsin Act 44, is amended to read:

AB298-AA1,1,13 71.05 (6) (b) 32. a. An amount equal to not more than $3,000 per beneficiary by each contributor to an account for each year to which the claim relates, except that the total amount for which a deduction may be claimed under this subdivision and under subd. 33., by a beneficiary's parent, may not exceed $3,000 each year.".

AB298-AA1,2,2 4. Page 2, line 6: after "statutes" insert ", as created by 1999 Wisconsin Act 44,".

AB298-AA1,2,3 5. Page 2, line 11: after that line insert:

AB298-AA1,2,5 " Section 2m. 71.05 (6) (b) 33. a. of the statutes, as created by 1999 Wisconsin Act 44, is amended to read:

AB298-AA1,2,9 71.05 (6) (b) 33. a. An amount equal to not more than $3,000 per beneficiary by each contributor to an account for each year to which the claim relates, except that the total amount for which a deduction may be claimed under this subdivision and under subd. 32., by a beneficiary's parent, may not exceed $3,000 each year.".

AB298-AA1,2,10 (End)