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S 2534 100th Congress Senate

College Savings Bond Act of 1988

Official title: A bill to establish a College Savings Bond Program and to amend the Internal Revenue Code of 1986 to provide that gross income of an individual shall not inclu… Show full official titleShow less

Official title: A bill to establish a College Savings Bond Program and to amend the Internal Revenue Code of 1986 to provide that gross income of an individual shall not include income from certain savings bonds the proceeds of which are used to pay certain post-secondary educational expenses, and for other purposes.

Introduced: June 17, 1988 See on congress.gov
Taxation College costsEducationHigher educationIncome tax
More subjectsShow fewer subjects
InterestSavings bondsSecurities and InvestmentsTax exclusionVocational and technical education
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This bill died when the 100th Congress ended
It never became law before the 100th Congress (1987–1988) adjourned, and bills don't carry over to the next Congress. It would have to be reintroduced. You can still save it for reference, but it won't receive updates.
 Everywhere this bill has been 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jun 17, 1988
Read twice and referred to the Committee on Finance.
Jun 17, 1988
Introduced in Senate
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 Latest action June 17, 1988

Read twice and referred to the Committee on Finance.

 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.

 Related & companion bills 2
  • HR 4790 Identical bill College Savings Bond Act of 1988
  • HR 4925 Identical bill College Savings Bond Act of 1988
 Committees of jurisdiction 1
 Cosponsors 1
All 1 Republican 1
R
Grassley, Chuck
Iowa · Jun 17, 1988
Cite this page click to expand
APA
U.S. Congress. (2026). S. 2534: College Savings Bond Act of 1988. 100th Congress. Open America. https://openamerica.io/bill/100-S-2534/
MLA
"S. 2534: College Savings Bond Act of 1988." 100th Congress, 2026, Open America, https://openamerica.io/bill/100-S-2534/.
Bluebook (legal)
S. 2534, 100th Cong. (2026), https://openamerica.io/bill/100-S-2534/.
Markdown link
[S. 2534: College Savings Bond Act of 1988](https://openamerica.io/bill/100-S-2534/)
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