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Read twice and referred to the Committee on Finance.
12/14/2023 • Senate
Summary
Achieving Choice in Education Act or the ACE Act
This bill modifies provisions of qualified tuition programs (i.e., 529 plans) and provides other tax incentives to promote education.
Specifically, the bill expands the definition of qualified higher education expense to include tuition, books or instructional material, fees, and educational therapies for disabled students. It also increases to $20,000 the limitation on distributions from 529 plans for elementary and secondary school expenses.
Further, the bill provides for an increased gift tax exclusion for contributions to 529 plans and limits tax-exempt bond financing to states that implement school choice laws.
Introduced in Senate • 12/14/2023
Topics & Subjects
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Related Federal Spending
Sponsor & Cosponsors (6)
Party Breakdown
Sponsor
Cosponsors (5)
Bill Journey
Originated in the Senate
Introduced
December 14, 2023
Read twice and referred to the Committee on Finance.
Committee Review
Floor Debate
Passed Chamber
Other Chamber
President
Enacted into Law