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HR 3722 103th Congress House

Education Savings Assistance Act of 1994

Official title: To amend the Internal Revenue Code of 1986 to provide for the tax-free treatment of certain education savings accounts, and for other purposes.

Introduced: May 26, 1994 See on congress.gov
Taxation AuditingCharitable contributionsChild supportCollege costs
More subjectsShow fewer subjects
Cost of living adjustmentsEducationEducational financeExcise taxFamiliesFinance and Financial SectorFinancial statementsFines (Penalties)Gift taxGovernment Operations and PoliticsGovernment paperworkHigher educationIncome taxSavings accountsTax deductions
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This bill died when the 103rd Congress ended
It never became law before the 103rd Congress (1993–1994) 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 4 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Aug 9, 1994
Sponsor introductory remarks on measure. (CR E1690)
Jan 25, 1994
Referred to the House Committee on Ways and Means.
Jan 25, 1994
Sponsor introductory remarks on measure. (CR E3)
Jan 25, 1994
Introduced in House
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 Latest action August 9, 1994

Sponsor introductory remarks on measure. (CR E1690)

 Plain-English summary Congressional Research Service

Education Savings Assistance Act of 1994 - Amends the Internal Revenue Code to exclude from gross income any qualified education savings account. Describes such account as a trust created pursuant to a State educational savings plan and used exclusively to pay the higher education expenses of the designated beneficiary.

Treats such State plans as tax-exempt organizations and treats contributions to such plans as charitable contributions.

Declares that contributions to such accounts are not subject to the gift tax.

Imposes penalty taxes in connection with reporting requirements or prohibited transactions associated with an account.

Excludes distributions from such accounts when determining support for dependents.

 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
 Cosponsors 1
All 1 Republican 1
R
Rogers, Harold
Kentucky · May 26, 1994
Cite this page click to expand
APA
U.S. Congress. (2026). H.R. 3722: Education Savings Assistance Act of 1994. 103rd Congress. Open America. https://openamerica.io/bill/103-HR-3722/
MLA
"H.R. 3722: Education Savings Assistance Act of 1994." 103rd Congress, 2026, Open America, https://openamerica.io/bill/103-HR-3722/.
Bluebook (legal)
H.R. 3722, 103rd Cong. (2026), https://openamerica.io/bill/103-HR-3722/.
Markdown link
[H.R. 3722: Education Savings Assistance Act of 1994](https://openamerica.io/bill/103-HR-3722/)
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