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Budget Summary FY2017

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Outside Section 90
Data Current as of:  8/9/2016

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College Savings Account Assets I

SECTION 90.   Section 25 of said chapter 118E, as appearing in the 2014 Official Edition, is hereby amended by inserting after the word "called", in line 49, the following words:- ; and

(6) a college savings plan established and maintained pursuant to or consistent with section 529 of the Internal Revenue Code.

Veto Explanation:
I am vetoing this section because recognizing an exemption for college savings accounts in determining eligibility for MassHealth benefits would violate federal Medicaid rules. MassHealth will continue to investigate ways in which savings for college expenses could be made exempt without violating federal law. I am also approving section 123 because federal law does not present the same constraints with respect to the Transitional Aid to Families with Dependent Children program.