HR 53
105th Congress
House
Taxation
College costs
Education
Educational finance
Excise tax
Finance and Financial Sector
Government Operations and Politics
Government paperwork
Higher education
Income tax
Labor and Employment
Law
Personal income tax
Savings accounts
Tax deductions
Tax deferral
Tax exclusion
Tax exemption
Tax penalties
Trusts and trustees
Higher Education Accumulation Program Act of 1997
Introduced: January 7, 1997
See on congress.gov
Everywhere this bill has been
3 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jan 7, 1997
Referred to the House Committee on Ways and Means.
Jan 7, 1997
Sponsor introductory remarks on measure. (CR E10)
Jan 7, 1997
Introduced in House
Plain-English summary
Higher Education Accumulation Program Act of 1997 - Amends the Internal Revenue Code to allow a deduction for amounts paid to a Higher Education Accumulation Program 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.
What's happening now
Referred to the House Committee on Ways and Means.
Committees of jurisdiction
1
Cosponsors
1