DES MOINES, IA (01/05/2012)(readMedia)-- State Treasurer Michael L. Fitzgerald announced today that the deduction amount for College Savings Iowa has once again been raised. "Iowa taxpayers can now deduct the first $2,975 they contribute to each College Savings Iowa beneficiary account from their state taxable income," said Fitzgerald. "This means that a married couple with two children will be able to deduct up to $11,900 in contributions on their 2012 state taxes."*

College Savings Iowa lets anyone - parents, grandparents, friends and relatives - invest for college on behalf of a child. Investors do not need to be a state resident and can withdraw their investment tax-free to pay for qualified higher education expenses including tuition, books, supplies and room and board at any eligible college, university, community college or accredited technical training school in the United States or abroad.**

One of the best features of College Savings Iowa is how easy it is to get started. "All you need is $25 and ten minutes of your time to start saving," said Fitzgerald. "I encourage all families to save whatever they can today to help offset what has to be borrowed in the future." For more information about College Savings Iowa, call 888-672-9116 or visit www.collegesavingsiowa.com.

* Adjusted annually for inflation. If withdrawals are not qualified, the deductions must be added back to Iowa taxable income.

** The earnings portion of nonqualified withdrawals may be subject to federal income tax and a 10% federal penalty tax, as well as state and local income taxes. The availability of tax or other benefits may be contingent on meeting other requirements.

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Investment returns are not guaranteed and you could lose money by investing in the plan. Participants assume all investment risks as well as responsibility for any federal and state tax consequences. If you are not an Iowa taxpayer, consider before investing whether your or the designated beneficiary's home state offers any state tax or other benefits that are only available for investments in such state's qualified tuition program.

For more information about the College Savings Iowa 529 Plan, call 888-672-9116 or visit www.collegesavingsiowa.com to obtain a Program Description. Investment objectives, risks, charges, expenses, and other important information are included in the Program Description; read and consider it carefully before investing.

Register for a chance to win a College Savings Iowa account.

DES MOINES, IA (12/01/2011)(readMedia)-- State Treasurer Michael L. Fitzgerald is encouraging Iowans to ring in the New Year with College Savings Iowa. "One of the best things about opening a College Savings Iowa account is that you are helping a child prepare for his/her future and taking advantage of a generous in-state tax deduction at the same time," Fitzgerald said. "To help remind Iowans about the importance of saving for college, College Savings Iowa is giving away a $529 College Savings Iowa account." For more information and to enter the giveaway, please visit www.collegesavingsiowa.com.

College Savings Iowa offers families a tax advantaged way to save money for their children's higher education. It only takes $25 to open an account, and anyone - parents, grandparents, friends and relatives - can invest in College Savings Iowa on behalf of a child. Participants who are Iowa taxpayers can deduct contributions up to $2,865 per beneficiary account from their 2011 adjusted gross income.* Contributions must be submitted by December 31, 2011 to qualify for 2011 state deductions. If the contribution is being mailed, checks must be postmarked by December 31, 2011.

Investors in College Savings Iowa can withdraw their investment federally tax-free to pay for qualified higher education expenses including tuition, books, supplies and certain room and board costs at any eligible college, university, community college or accredited technical training school in the United States or abroad. To learn more about College Savings Iowa, please visit www.collegesavingsiowa.com or call 1-888-672-9116.

*Adjusted annually for inflation. If withdrawals are not qualified, the deductions must be added back to Iowa taxable income. The earnings portions of nonqualified withdrawals may be subject to federal income tax and a 10% federal penalty tax, as well as state and local income taxes. The availability of tax or other benefits may be contingent on meeting other requirements.

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Investment returns are not guaranteed and you could lose money by investing in the plan. Participants assume all investment risks as well as the responsibility for any federal and state tax consequences. If you are not an Iowa taxpayer, consider before investing whether your or the designated beneficiary's home state offers any state tax or other benefits that are only available for investments in such state's qualified tuition program.

For more information about the College Savings Iowa 529 Plan, call 888-672-9116 or visit www.collegesavingsiowa.com to obtain a Program Description. Investment objectives, risks, charges, expenses, and other important information are included in the Program Descriptions; read and consider it carefully before investing.

DES MOINES, IA (11/03/2011)(readMedia)-- State Treasurer Michael L. Fitzgerald reports that outstanding debt obligations for state and local governments in Iowa totaled nearly $13.8 billion as of June 30, 2011. Overall, this represents an increase of 6.61% from last year. All political subdivisions, instrumentalities, and agencies of the state are required to disclose this information annually to the State Treasurer.

Cities continued to report the greatest amount of outstanding obligations with 35% or $4.8 billion of all outstanding debt. Cities mainly issued debt for utility/sewer projects (35%). Most city debt was issued as general obligation debt (59%).

Schools and Area Education Agencies reported the second largest amount of outstanding debt with an increase of 9.46% over last year. Of the $2.7 billion reported, the majority (over $2.6 billion) was for public buildings and schools.

State agencies accounted for the largest increase in debt for fiscal year 2011, due largely to the I-Jobs program and the new Iowa State Penitentiary being constructed in Fort Madison. The IJOBS financing secured bonds to strengthen Iowa's economy and help Iowa recover from the natural disasters of 2008. I-Jobs bonds account for $160 million of the increase, while the State Penitentiary bonds account for $130 million of the increase.

Iowa counties reported an increase of 22.9% in debt over last year. Polk County reported 35% of the $828 million in outstanding county debt.

Other entities with outstanding debt issues include state authorities with $2.3 billion, community colleges with $573 million, the Board of Regents with $1.3 billion, and others (utility systems) with $38 million.

The report is available in its entirety at www.treasurer.state.ia.us (can also be viewed by county, excluding short term/anticipatory debt) or from the Office of the State Treasurer, State Capitol Building, Des Moines, Iowa 50319.

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DES MOINES, IA (09/22/2011)(readMedia)-- State Treasurer Michael Fitzgerald wants to remind Iowans it is their last chance to celebrate College Savings Month by registering their child to win a $1,000 College Savings Iowa account. "I encourage everyone to register for the giveaway and explore the benefits of using a 529 plan, such as College Savings Iowa, to save for their loved ones future higher education expenses," stated Fitzgerald. "Don't miss out on this great opportunity to jumpstart your child's college savings." For more information and to register for the giveaway, please visit www.my529iowaplan.com before September 30th.

September, College Savings Month, helps bring attention to the fact that saving for college is one of the most significant things families can do for the children in their lives. Studies have shown that children who have money saved for school are almost four times more likely to attend a four-year college than those with no account.* This makes saving ahead of time one of the most significant things families can do to help make college a reality for their children. By starting early, saving a little at a time and making smart investment choices, parents can make their savings work for them.

College Savings Iowa is an affordable, tax-advantaged option for families who are saving for their children's higher education. It takes just $25 to open a College Savings Iowa account, and anyone - parents, grandparents, friends and relatives - can invest on behalf of a child. Participants who are Iowa taxpayers can deduct contributions up to $2,865 per beneficiary account from their adjusted gross income in 2011 and there no income or residency restrictions.**

Investors do not need to be a state resident and can withdraw their investment federally tax-free to pay for qualified higher education expenses including tuition, books, supplies and certain room and board costs at any eligible college, university, community college or technical training school in the United States or abroad. To learn more about College Savings Iowa, go to www.my529iowaplan.com or call 1-888-332-7545.

*From the Center for Social Development study: The Role of Savings and Wealth in Reducing "Wilt" between Expectations and College Attendance. William Elliott III and Sondra Beverly, 2010.

**Adjusted annually for inflation if withdrawals are not qualified, the deductions must be added back to Iowa taxable income. The earnings portion of nonqualified withdrawals may be subject to federal income tax and a 10% federal penalty tax, as well as state and local income taxes. The availability of tax or other benefits may be contingent on meeting other requirements.

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