H.R. 529
Referred to CommitteeTo amend the Internal Revenue Code of 1986 to improve 529 plans.
Latest Action
Read twice and referred to the Committee on Finance.
4/16/2015 • Senate
Summary
(This measure has not been amended since it was reported to the House on February 20, 2015. The summary of that version is repeated here.)
This bill makes changes to the rules for qualified tuition programs (known as 529 plans).
(Sec. 2) The Internal Revenue Code is amended to allow payments from 529 plans for the purchase of computer or peripheral equipment, computer software, or Internet access and related services to be used primarily by a 529 plan beneficiary while enrolled in an eligible educational institution.
(Sec. 3) The requirement that distributions from a 529 plan be aggregated for purposes of determining the amount includible in a taxpayer's income is eliminated.
(Sec. 4) Students who receive a refund from an eligible educational institution can recontribute such refund to a 529 plan without tax consequences if the recontribution is made not later than 60 days after the date of such refund and does not exceed the refunded amount.
Passed House amended • 2/25/2015
Topics & Subjects
CBO Cost Estimates (1)
Amendments (1)
This bill has 1 amendment proposed or adopted.
View all amendments on Congress.govCongressional Votes (2)
On Passage
February 25, 2015
On Motion to Recommit with Instructions
February 25, 2015
Related Federal Spending
Sponsor & Cosponsors (39)
Party Breakdown
Sponsor
Cosponsors (38)
Bill Journey
Originated in the House
Introduced
January 26, 2015
Committee Review
February 12, 2015
Floor Debate
February 25, 2015
Passed Chamber
February 25, 2015
Other Chamber
February 26, 2015
President
Failed
February 25, 2015
Text Versions (5)
Committee Reports (1)
Related Bills (2)
H.Res. 121
Providing for consideration of the bill (H.R. 529) to amend the Internal Revenue Code of 1986 to improve 529 plans; providing for consideration of the bill (H.R. 5) to support State and local accountability for public education, protect State and local authority, inform parents of the performance of their children's schools, and for other purposes; and for other purposes.
S. 335
A bill to amend the Internal Revenue Code of 1986 to improve 529 plans.