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HR 1597 105th Congress House

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
Taxation College costsCost of living adjustmentsEconomics and Public FinanceEducation
More subjectsShow fewer subjects
Education savings accountsEducational financeExcise taxFamiliesFinance and Financial SectorGift taxGovernment Operations and PoliticsGovernment paperworkGrandparentsHigher educationIncome taxIndexing (Economic policy)Individual retirement accountsLabor and EmploymentLawPersonal income taxSecuritiesTax deductionsTax exclusionTax exemptionTax penaltiesTax-deferred compensation plansTrusts and trusteesVocational and technical education
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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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 Latest action May 14, 1997

Referred to the House Committee on Ways and Means.

 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.

 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
 Cosponsors 6
All 6 Democratic 1 Republican 1
BEREUTER, DOUGLAS
· May 14, 1997
Faleomavaega, Eni
· May 14, 1997
 R
Graham, Lindsey
South Carolina · May 14, 1997
GREENWOOD, JAMES
· May 14, 1997
 D
Norton, Eleanor Holmes
District of Columbia · May 14, 1997
QUINN, JACK
· 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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