US SB695 | 2019-2020 | 116th Congress
Status
Spectrum: Partisan Bill (Republican 9-0)
Status: Introduced on March 7 2019 - 25% progression, died in committee
Action: 2019-03-07 - Read twice and referred to the Committee on Finance.
Pending: Senate Finance Committee
Text: Latest bill text (Introduced) [PDF]
Status: Introduced on March 7 2019 - 25% progression, died in committee
Action: 2019-03-07 - Read twice and referred to the Committee on Finance.
Pending: Senate Finance Committee
Text: Latest bill text (Introduced) [PDF]
Summary
Directs the Department of Education (ED) to establish a program to provide children with parents on active duty in the uniformed services with funds to pay educational expenses. Specifically, ED shall establish a tax-exempt Military Education Savings Account for dependent children of parents in the uniformed services for the payment of the children's educational expenses. Funds in the savings account may be used for, among other things, the cost of attendance at a private elementary or secondary school or institution of higher education, private tutoring, or costs associated with an apprenticeship or other vocational training program.
Title
Education Savings Accounts for Military Families Act of 2019
Sponsors
Sen. Ben Sasse [R-NE] | Sen. Tom Cotton [R-AR] | Sen. Tim Scott [R-SC] | Sen. Marsha Blackburn [R-TN] |
Sen. Rick Scott [R-FL] | Sen. Ted Cruz [R-TX] | Sen. Mike Braun [R-IN] | Sen. Kelly Loeffler [R-GA] |
Sen. John Kennedy [R-LA] |
History
Date | Chamber | Action |
---|---|---|
2019-03-07 | Senate | Read twice and referred to the Committee on Finance. |
Same As/Similar To
HB1605 (Related) 2019-03-07 - Referred to the Committee on Education and Labor, and in addition to the Committees on Ways and Means, and Appropriations, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Subjects
Bank accounts, deposits, capital
Education
Education programs funding
Elementary and secondary education
Income tax exclusion
Military personnel and dependents
Student aid and college costs
Education
Education programs funding
Elementary and secondary education
Income tax exclusion
Military personnel and dependents
Student aid and college costs
US Congress State Sources
Type | Source |
---|---|
Summary | https://www.congress.gov/bill/116th-congress/senate-bill/695/all-info |
Text | https://www.congress.gov/116/bills/s695/BILLS-116s695is.pdf |