US HB675 | 2017-2018 | 115th Congress
Status
Spectrum: Partisan Bill (Republican 2-0)
Status: Introduced on January 24 2017 - 25% progression, died in committee
Action: 2017-01-24 - Referred to the House Committee on Ways and Means.
Pending: House Ways And Means Committee
Text: Latest bill text (Introduced) [PDF]
Status: Introduced on January 24 2017 - 25% progression, died in committee
Action: 2017-01-24 - Referred to the House Committee on Ways and Means.
Pending: House Ways And Means Committee
Text: Latest bill text (Introduced) [PDF]
Summary
Empowering Parents to Invest in Choice Act of 2017 This bill amends the Internal Revenue Code to allow the payment of qualified elementary and secondary education expenses from a tax-exempt qualified tuition program (known as a 529 plan). (Currently, such plans only pay qualified higher education expenses.) Included as qualified elementary and secondary education expenses are expenses for: (1) tuition, fees, academic tutoring, special needs services, books, and supplies; (2) room and board, uniforms, transportation, and supplementary items and services; and (3) and computer technology or equipment, including Internet access. The bill also increases from $2,000 to $12,000 the limit on the amount that may be contributed to a tax-exempt Coverdell education savings account. The new contribution limit is adjusted for inflation in each taxable year beginning after 2014.
Title
Empowering Parents to Invest in Choice Act of 2017
Sponsors
Rep. Patrick McHenry [R-NC] | Rep. Andy Harris [R-MD] |
History
Date | Chamber | Action |
---|---|---|
2017-01-24 | House | Referred to the House Committee on Ways and Means. |
2017-01-24 | House | Introduced in House |
Subjects
Elementary and secondary education
Higher education
Income tax exclusion
Inflation and prices
Student aid and college costs
Taxation
Higher education
Income tax exclusion
Inflation and prices
Student aid and college costs
Taxation
US Congress State Sources
Type | Source |
---|---|
Summary | https://www.congress.gov/bill/115th-congress/house-bill/675/all-info |
Text | https://www.congress.gov/115/bills/hr675/BILLS-115hr675ih.pdf |