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HR 797 104th Congress House

Higher Education Accumulation Program Act of 1995

Official title: To amend the Internal Revenue Code of 1986 to establish a Higher Education Accumulation Program (HEAP) under which individuals are allowed a deduction for contributions to HEAP accounts.

Introduced: February 22, 1995 See on congress.gov
Taxation College costsEducationEducational financeExcise tax
More subjectsShow fewer subjects
Finance and Financial SectorGovernment Operations and PoliticsGovernment paperworkHigher educationIncome taxLabor and EmploymentSavings accountsTax deductionsTax deferralTax exclusionTax exemptionTax penaltiesTrusts and trusteesVocational and technical education
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This bill died when the 104th Congress ended
It never became law before the 104th Congress (1995–1996) 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 3 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Feb 2, 1995
Referred to the House Committee on Ways and Means.
Feb 2, 1995
Sponsor introductory remarks on measure. (CR E256-257)
Feb 2, 1995
Introduced in House
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 Latest action February 2, 1995

Referred to the House Committee on Ways and Means.

 Plain-English summary Congressional Research Service

Higher Education Accumulation Program Act of 1995 - Amends the Internal Revenue Code to allow a deduction for amounts paid to a Higher Education Accumulation Program (HEAP) account established to accumulate funds to pay the educational expenses of a child of the taxpayer.

Declares such accounts exempt from tax. Allows the deduction in arriving at adjusted gross income. Imposes an excise tax on excess contributions and prohibited transactions. Imposes a penalty for failure to meet reporting requirements.

 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
 Cosponsors 3
All 3 Democratic 3
D
Lofgren, Zoe
California · Jun 18, 1996
 D
Schumer, Charles E.
New York · Feb 22, 1995
 D
Pelosi, Nancy
California · Feb 2, 1995
Cite this page click to expand
APA
U.S. Congress. (2026). H.R. 797: Higher Education Accumulation Program Act of 1995. 104th Congress. Open America. https://openamerica.io/bill/104-HR-797/
MLA
"H.R. 797: Higher Education Accumulation Program Act of 1995." 104th Congress, 2026, Open America, https://openamerica.io/bill/104-HR-797/.
Bluebook (legal)
H.R. 797, 104th Cong. (2026), https://openamerica.io/bill/104-HR-797/.
Markdown link
[H.R. 797: Higher Education Accumulation Program Act of 1995](https://openamerica.io/bill/104-HR-797/)
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