New Jersey Statutes 18A:71B-46. Federal income tax consequences
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Terms Used In New Jersey Statutes 18A:71B-46
- Higher education: means that education which is provided by any or all of the public institutions of higher education as herein defined and any or all equivalent private institutions. See New Jersey Statutes 18A:1-1
18A:71B-46. Federal Income Tax Consequences.
If the Congress of the United States enacts legislation that exempts educational savings accounts from federal income taxation, sections N.J.S. 18A:71B-42 and N.J.S. 18A:71B-43 shall apply with respect to such educational savings accounts as if they were accounts established under this act and the beneficiaries of the accounts were designated beneficiaries subject to the approval of the New Jersey Higher Education Assistance Authority.
L.1999,c.46,s.1.