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HR 4790 100th Congress House Taxation College costs Education Higher education Income tax Interest Savings bonds Securities and Investments Tax exclusion Vocational and technical education

College Savings Bond Act of 1988

Introduced: June 10, 1988 See on congress.gov
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 Everywhere this bill has been 3 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Nov 10, 1988
Provisions of Measure Incorporated Into H.R.4333.
Jun 10, 1988
Referred to House Committee on Ways and Means.
Jun 10, 1988
Introduced in House
 Plain-English summary Congressional Research Service

College Savings Bond Act of 1988 - Authorizes the Secretary of the Treasury to issue college savings bonds in the interest of encouraging long-term savings for postsecondary education.

Amends the Internal Revenue Code to exclude from the gross income of an individual any interest on college savings bonds to the extent these proceeds are used to pay the qualified educational expenses (tuition, fees, books, supplies, reasonable living expenses) of the taxpayer, spouse, child, or dependent at an institution of higher education, including a postsecondary vocational school. Decreases the permissible exclusion for taxpayers having adjusted gross income above $60,000, allowing no exclusion if income exceeds $80,000.

What's happening now November 10, 1988

Provisions of Measure Incorporated Into H.R.4333.

 Committees of jurisdiction 1
 Cosponsors 1
All 1 Republican 1