Arrow-right Camera

The Spokesman-Review Newspaper The Spokesman-Review

Wednesday, October 21, 2020  Spokane, Washington  Est. May 19, 1883
Partly Cloudy Day 50° Partly Cloudy
News >  Pacific NW

College savings plan bill signed by Gov. Inslee

Associated Press

OLYMPIA – Washington Gov. Jay Inslee has signed a bill that will start a traditional 529 college savings plan in the state and reopen the old prepaid program frozen last year.

Inslee signed Senate Bill 6601 on Tuesday that reopens Washington’s current college savings program – one of a few in the country that allows parents to pay tuition in advance. It was frozen in August.

Standard 529 plans are open in 48 other states. Both let people save money for college and not pay federal income taxes on investment earnings.

The bill passed both chambers by wide margins, and was approved by the Legislature in early March.

The Spokesman-Review Newspaper

Local journalism is essential.

Give directly to The Spokesman-Review's Northwest Passages community forums series -- which helps to offset the costs of several reporter and editor positions at the newspaper -- by using the easy options below. Gifts processed in this system are not tax deductible, but are predominately used to help meet the local financial requirements needed to receive national matching-grant funds.

Subscribe to the Coronavirus newsletter

Get the day’s latest Coronavirus news delivered to your inbox by subscribing to our newsletter.

New health insurance plans available November 1 through Washington Healthplanfinder

 (Photo courtesy WAHBE)

Fall means the onset of the cold and flu season.