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HR 1597 105th Congress House Taxation College costs Cost of living adjustments Economics and Public Finance Education Education savings accounts Educational finance Excise tax Families Finance and Financial Sector Gift tax Government Operations and Politics Government paperwork Grandparents Higher education Income tax Indexing (Economic policy) Individual retirement accounts Labor and Employment Law

To amend the Internal Revenue Code of 1986 to provide for the establishment of, and the deduction of contributions to, education savings accounts.

Introduced: May 14, 1997 See on congress.gov
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This bill died when the 105th Congress ended
It never became law before the 105th Congress (1997–1998) 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
May 14, 1997
Referred to the House Committee on Ways and Means.
May 14, 1997
Introduced in House
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 Plain-English summary Congressional Research Service

Amends the Internal Revenue Code to allow an individual income tax deduction for contributions to a savings account established to pay the educational expenses (tuition, supplies, meals, and lodging) of the taxpayer's child or certain other relatives at an institution of higher education or a vocational school. Limits the deduction to $2,000 annually (adjusted for inflation) for each account. Disallows the deduction for contributions to an account maintained for any individual aged 19 or older. Requires any account balance to be distributed after the beneficiary attains age 30.

Imposes penalties for excess contributions or prohibited transactions associated with an account.

Provides for an from annual contribution limitations for distributions from education savings accounts into individual retirement accounts.

Excludes from gross income distributions from individual retirement accounts into education savings accounts.

What's happening now May 14, 1997

Referred to the House Committee on Ways and Means.

 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
 Cosponsors 2
All 2 Democratic 1 Republican 1
R
Graham, Lindsey
South Carolina · May 14, 1997
 D
Norton, Eleanor Holmes
District of Columbia · May 14, 1997
Cite this page click to expand
APA
U.S. Congress. (2026). H.R. 1597: To amend the Internal Revenue Code of 1986 to provide for the establishment of, and the deduction of contributions to, education savings accounts.. 105th Congress. Open America. https://openamerica.io/bill/105-HR-1597/
MLA
"H.R. 1597: To amend the Internal Revenue Code of 1986 to provide for the establishment of, and the deduction of contributions to, education savings accounts.." 105th Congress, 2026, Open America, https://openamerica.io/bill/105-HR-1597/.
Bluebook (legal)
H.R. 1597, 105th Cong. (2026), https://openamerica.io/bill/105-HR-1597/.
Markdown link
[H.R. 1597: To amend the Internal Revenue Code of 1986 to provide for the establishment of, and the deduction of contributions to, education savings accounts.](https://openamerica.io/bill/105-HR-1597/)
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