Source: http://dccode.elaws.us/code?no=47-4509
Timestamp: 2019-11-18 16:33:39
Document Index: 278126540

Matched Legal Cases: ['§ 47', '§ 32', '§ 32', '§ 32', '§ 47', '§ 2', '§ 2402', '§ 2', '§ 73', '§ 2', '§ 172', '§ 32', '§ 32', '§ 2402', '§ 2', '§ 2402', '§ 2402']

§ 47-4509. Local tax exemption.
(a) An account owner who files an income tax return in the District of Columbia may claim a deduction in an annual amount not to exceed $4,000 for contributions made to all accounts under the Program. With respect to married individuals (or domestic partners registered under § 32-702) filing a joint return, each married individual (or domestic partner registered under § 32- 702) may claim a deduction in an annual amount not to exceed $4,000 for contributions made to all accounts under the Program for which the married individual (or domestic partner registered under § 32-702) is the account owner.
(c) Any deduction taken under this section shall be subject to recapture with respect to a withdrawal or rollover taken within 2 years of the establishment of the account for any reason other than provided in subsection (d) of this section. In addition, notwithstanding the statute of limitations on assessments in § 47-912, any deduction taken under this section shall be subject to recapture in the taxable year in which the withdrawal or rollover is made after 2 years of the establishment of the account for any reason other than provided in subsection (d) of this section or to transfer to another qualified tuition program.
(Mar. 31, 2001, D.C. Law 13-212, § 2(b), 47 DCR 9457; June 5, 2003, D.C. Law 14-307, § 2402(i), 49 DCR 11664; Mar. 14, 2007, D.C. Law 16-292, § 2(i), 54 DCR 1080; Apr. 24, 2007, D.C. Law 16-305, § 73(j), 53 DCR 6198; May 13, 2008, D.C. Law 17-153, § 2, 55 DCR 3460; Mar. 25, 2009, D.C. Law 17-353, § 172(e)(3), 56 DCR 1117.)
"Contributions made by account owners to, and earnings on, accounts shall be exempt from District of Columbia income taxation."
D.C. Law 16-292, in subsec. (a), substituted "married individuals (or domestic partners registered under § 32-702)" for "married individuals" and "married individual (or domestic partner registered under § 32-702)" for "married individual".
D.C. Law 16-305, in subsec. (d)(2), substituted "has a disability" for "becomes disabled".
D.C. Law 17-153, in subsecs. (a) and (b), substituted "$4,000" for "$3,000".
D.C. Law 17-353 , in subsec. (d)(2), substituted "develops a disability" for "has a disability".
For temporary (90 day) amendment of section, see § 2402(i) of Fiscal Year 2003 Budget Support Amendment Emergency Act of 2002 (D.C. Act 14-544, December 4, 2002, 49 DCR 11700).
For temporary (90 day) amendment of section, see § 2(f) of College Savings Program Emergency Act of 2002 (D.C. Act 14-374, May 20, 2002, 49 DCR 5114).
For temporary (90 day) amendment of section, see § 2402(i) of the Fiscal Year 2003 Budget Support Amendment Congressional Review Emergency Act of 2003 (D.C. Act 15-27, February 24, 2003, 50 DCR 2151).
For temporary (90 day) amendment of section, see § 2402(i) of Fiscal Year 2003 Budget Support Amendment Second Congressional Review Emergency Act of 2003 (D.C. Act 15-103, June 20, 2003, 50 DCR 5499).
Law 17-153 the "College Savings Program Increased Tax Benefit Act of 2008", was introduced in Council and assigned Bill No.17-235 which was referred to the Committee of the Whole. The Bill was adopted on first and second readings on February 5, 2008, and March 4, 2008, respectively. Signed by the Mayor on March 19, 2008, it was assigned Act No. 17-325 and transmitted to both Houses of Congress for its review. D.C. Law 17-153 became effective on May 13, 2008.
Section 3 of D.C. Law 17-153 provides: