Senate OKs low-income college tax credit bill
A bill that would give low-income families a little help in getting students through college received final approval in the Senate Monday.
SB62, sponsored by Sen. Greg Bell, R-Fruit Heights, would give families a higher education tax credit if their children attend a public university or college in Utah.
The credit, which could be claimed for each dependent student at an eligible school, would only be for residents who make less than $30,000 a year. The credit would amount to 50 percent of "qualified higher education expenses incurred for an eligible student in the taxable year, up to a maximum of $300."
According to Bell, the tax credit could benefit roughly 30,000 students in the state at a cost of about $8.4 million a year.
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