Puting money away for college could put you in the money on tax day under a bill making its way through the state legislature. Senator Gilbert Baker`s bill would make contributions to the Arkansas Tax-Defferred Tuition Savings Program deductible from your Arkansas inmcome tax. You can deduct up to five thousand dollars. For a couple, that means up to ten thousand dollars. The measure goes along with the Federal 529 Plan. Senator Baker`s bill now goes to the full house.