Professional Documents
Culture Documents
S.L.C.
114TH CONGRESS
1ST SESSION
S. ll
A BILL
To amend the Internal Revenue Code of 1986 to encourage
the use of 529 plans and Coverdell education savings
accounts, and for other purposes.
1
OTT15086
S.L.C.
2
Sec. 101. Title I portability.
TITLE IIALLOWANCE OF HOME SCHOOL EXPENSES AS
QUALIFIED EDUCATION EXPENSES
Sec. 201. Allowance of home school expenses as qualified education expenses
for purposes of a Coverdell Education Savings Account.
Sec. 202. Elimination of Coverdell Education Savings Account contribution limitation.
TITLE III529 PROGRAMS FOR ELEMENTARY AND SECONDARY
EDUCATION EXPENSES
Sec. 301. 529 programs for elementary and secondary education expenses.
1
2
3
4
5 Education Act of 1965 (20 U.S.C. 6311 et seq.) is amend6 ed by adding at the end the following:
7
8
9
18
19
OTT15086
S.L.C.
3
1
OF POVERTY.In
determining
10
11
12
tistics.
13
14
15
VATE
IN
PUBLIC
AND
PRI-
SCHOOLS.
(1)
IDENTIFICATION
OF
ELIGIBLE
CHIL-
16
DREN.On
17
18
19
20
21
22
23
24
graphic jurisdiction.
OTT15086
S.L.C.
4
1
(2) ALLOCATION
TO
LOCAL
EDUCATIONAL
AGENCIES.Based
(3) DISTRIBUTION
TO SCHOOLS.Each
local
10
11
12
13
14
15
16
(A) based on the number of eligible children enrolled in such schools; and
17
18
19
20
21
22
OTT15086
S.L.C.
INGS ACCOUNT.
1
2
9 of the Internal Revenue Code of 1986 is amended by add10 ing at the end the following new subparagraph:
11
(C) PRIVATE
SCHOOL.For
purposes of
12
13
14
15
16
17
23 530(b)(1) of the Internal Revenue Code of 1986 is amend24 ed by inserting or at the end of clause (i), by striking
OTT15086
S.L.C.
6
1 or at the end of clause (ii) and inserting a period, and
2 by striking clause (iii).
3
(b) PROHIBITION
ON
EXCESS CONTRIBUTIONS.
(5) PROHIBITION
ON
EXCESS
CONTRIBU-
TIONS.A
10
11
12
13
14
20
21
22
23
PENSES.
17
18
19
24
OTT15086
S.L.C.
7
1
2
3
HIGHER
EDU-
CATION EXPENSES
EDUCATION EXPENSES.
8
9
(A) IN
GENERAL.The
term qualified
10
11
penses, and
12
13
14
penses.
15
(B) QUALIFIED
16
PENSES.The
17
18
19
20
paragraphs:
(D) QUALIFIED
PRE-KINDERGARTEN, EL-
21
22
PENSES.The
23
24
means
OTT15086
S.L.C.
8
1
10
11
uniforms,
transportation,
and
supple-
12
13
14
15
16
17
18
19
20
21
22
23
24
beneficiary is in school.
OTT15086
S.L.C.
9
1
educational in nature.
10
11
subsection (b)..
12
13 such Code is amended by striking qualified higher edu14 cation each place it appears in subsections (b) and (c)
15 and inserting qualified education.
16