Statement from Senate President Pro Tempore Mike Morgan

“This legislation is an investment in Oklahoma’s future. Education is the key to unlocking the door of opportunity for our young people and we must do all we can to make achieving a college education affordable for all families. Senate Bill 448 will allow parents and grandparents to open that door and make a better tomorrow for our children.”

Note: The Oklahoma House of Representatives Thursday gave final passage to Senate Bill 448 by Senate President Pro Tempore Mike Morgan and Speaker Pro Tempore Susan Winchester. The Senate passed the measure Wednesday on a 45-0 vote. It now goes to the governor for his signature. The measure allows taxpayers to make tax exempt contributions of up to $10,000 per year per taxpayer and $20,000 per married couple in college savings accounts. Current law allows $2,500 to be deposited tax free per taxpayer per account each year.