A monthly update on key legislation for Treasurer Ma

May 2019

Letter from Treasurer Ma

The benefits of higher education are well established. A person’s social mobility and economic potential are enhanced by education. And so is California’s prosperity, which hinges on expanding our educated workforce to meet anticipated future job growth.

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Dear Fiona,

I’m going to open a ScholarShare 529 account in order to save for my daughter’s future education costs.

What types of schools and expenses can my college savings account be used for?

Melanie

Dear Melanie,

May 2019 Travels in Photos

Colleges and universities can be expensive. Who wants to take on loans it may take years to pay off? At the same time, we all want the upward mobility, higher income potential, and equal shot at living the California dream that tends to follow getting a higher education.

So, what’s a family to do?

State Treasurer Fiona Ma recommends you consider opening a California ScholarShare 529 college savings plan as soon as you can.

If you act now, you could even qualify for a matching contribution!

Travels in Photos

Treasurer Ma meeting with representatives of WISR – a networking and professional development organization for women in the solid waste and recycling industry.

Meet the people in the State Treasurer’s Office whose public service inspires us and is making a difference.

Meet Ashley Peters, our April employee of the month! A contract analyst in the Business Services Unit of the State Treasurer’s Office (STO), Ashley began working for us in October 2012 as an office assistant in the administration division.

A monthly update on key legislation for Treasurer Ma

529 ScholarShare Tax Deduction on State Income Taxes

Assembly Bill 211, Ian Calderon (D-Whittier) https://a57.asmdc.org/

Provides a state income tax deduction for those who contribute to a California ScholarShare 529 account, not to exceed $5,000 for single taxpayers, or $10,000 for joint filers.

Where there’s a will, there’s a way

By Deputy Treasurer Jovan Agee

California has an affordability problem, especially when it comes to housing in this state. The future of our residents’ health, safety and wealth depends on access to housing that is affordable.

Welcome to the third issue of my newsletter! In this issue, we will be covering affordable housing.