S. 426 · 118th Congress
Inflation-Adjusted Education Investment Act
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Never voted on. It didn't reach a floor vote before the 118th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
R
KennedySponsorNo cosponsors.
This bill modifies provisions relating to qualified tuition programs (i.e., tax-exempt 529 plans).
What it does: CRS summary · Introduced in Senate · Feb 15, 2023
Inflation-Adjusted Education Investment Act
This bill modifies provisions relating to qualified tuition programs (i.e., tax-exempt 529 plans). Specifically, it increases from $10,000 to $12,000 the limitation under such programs on payments for educational expenses, including expenses for tuition in connection with enrollment or attendance at an elementary or secondary public, private, or religious school. The bill provides for an annual inflation adjustment to the increased limitation amount for taxable years beginning after 2023.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Inflation-Adjusted Education Investment Act
Latest action (Feb 15, 2023): Read twice and referred to the Committee on Finance.
Policy area: Taxation · Origin: Senate · Introduced: Feb 15, 2023
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.