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house Bill H.R. 553

To amend the Internal Revenue Code of 1986 to encourage the use of 529 plans and Coverdell education savings accounts, and for other purposes.

Bill Details

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Official Title

To amend the Internal Revenue Code of 1986 to encourage the use of 529 plans and Coverdell education savings accounts, and for other purposes.

Summary

Amends the Internal Revenue Code to: (1) allow payment of home school expenses from Coverdell education savings accounts; (2) remove the dollar limitation on contributions to Coverdell education savings accounts and require such accounts to provide adequate safeguards to prevent contributions from exceeding the amount necessary to provide for the qualified education expenses of the account beneficiary; and (3) allow tax-exempt qualified tuition programs (529 tuition programs) to pay qualified pre-kindergarten, elementary, and secondary education expenses.

bill Progress


  • Not enacted
    The President has not signed this bill
  • The senate has not voted
  • The house has not voted
      house Committees
      Committee on Ways and Means
    IntroducedJanuary 27th, 2015

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