S. 335 · 114th Congress
A bill to amend the Internal Revenue Code of 1986 to improve 529 plans.
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Never voted on. It didn't reach a floor vote before the 114th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
R
GrassleySponsor20 cosponsors · 5 D, 14 R, 1 I
R
Burr
BC
D
Cardin
BC
D
Casey
PR
R
Roberts
MW
D
Warner
TS
R
Scott
KA
R
Ayotte
JI
R
Isakson
MM
R
McConnell
SC
R
Collins
CS
D
Schumer
DF
R
Fischer
CG
R
Gardner
JM
R
Moran
RW
R
Wicker
AK
I
King
RP
R
Portman
LM
R
Murkowski
PT
R
Toomey
AK
D
Klobuchar5 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
What it does: CRS summary · Reported to Senate with amendment(s) · May 21, 2015
(Sec. 2) This section amends the Internal Revenue Code to modify the types of higher education expenses that may be paid from a qualified tuition program (known as a 529 plan) to include expenses for the purchase of computer or peripheral equipment and computer software. This amendment applies to taxable years beginning after December 31, 2014.
(Sec. 3) This section repeals, after 2014, the provision of the Internal Revenue Code that requires 529 plan accounts to be aggregated for purposes of calculating the amount of distributions that are includible in taxpayer income.
(Sec. 4) This section amends the Internal Revenue Code to provide that a 529 plan beneficiary who receives a refund of higher education expenses after 2014 will not be required to include the amount of such refund in income for tax purposes if such beneficiary recontributes the refunded amount to the 529 plan within 60 days of receiving the refund and the recontribution does not exceed the refunded amount.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: A bill to amend the Internal Revenue Code of 1986 to improve 529 plans.
Latest action (May 21, 2015): Placed on Senate Legislative Calendar under General Orders. Calendar No. 97.
Policy area: Taxation · Origin: Senate · Introduced: Feb 2, 2015
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.