US HB7021 | 2017-2018 | 115th Congress

Status

Spectrum: Partisan Bill (Republican 2-0)
Status: Introduced on October 2 2018 - 25% progression
Action: 2018-10-02 - Referred to the House Committee on Ways and Means.
Pending: House Ways And Means Committee
Text: Latest bill text (Introduced) [PDF]

Summary

To amend the Internal Revenue Code of 1986 to provide for distributions from 529 plans to pay certain early education expenses. This bill amends the Internal Revenue Code to allow tax-free distributions from qualified tuition programs (known as 529 plans) to be used for qualified early education expenses, subject to a limit of $10,000 per beneficiary. "Qualified early education expenses" are expenses for providing educational and other care to a child under age 5 (including childcare provided before and after school), as determined under state law and pursuant to attendance at a school or facility licensed in the state for the purpose.

Tracking Information

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Title

To amend the Internal Revenue Code of 1986 to provide for distributions from 529 plans to pay certain early education expenses.

Sponsors


History

DateChamberAction
2018-10-02HouseReferred to the House Committee on Ways and Means.
2018-10-02HouseIntroduced in House

Same As/Similar To

SB3228 (Related) 2018-07-17 - Read twice and referred to the Committee on Finance.

Subjects


US Congress State Sources


Bill Comments

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