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S 1054 106th Congress Senate

Savings for Scholars Act

Official title: A bill to amend the Internal Revenue Code of 1986 to enhance various tax incentives for education.

Introduced: May 14, 1999 Introduced by: Collins, Susan M. Republican · Maine See on congress.gov
Taxation College costsEducationEducation savings accountsFamilies
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Higher educationIncome taxPersonal income taxTax exclusionTuition tax credits
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This bill died when the 106th Congress ended
It never became law before the 106th Congress (1999–2000) 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
May 14, 1999
Read twice and referred to the Committee on Finance.
May 14, 1999
Sponsor introductory remarks on measure. (CR S5371-5372)
May 14, 1999
Introduced in Senate
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 Latest action May 14, 1999

Read twice and referred to the Committee on Finance.

 Plain-English summary Congressional Research Service
Savings for Scholars Act - Amends the Internal Revenue Code to: (1) increase to $2,000 the maximum annual contribution allowed to education individual retirement accounts; and (2) modify qualified state tuition programs and the Hope and Lifetime Learning credits.
 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
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APA
U.S. Congress. (2026). S. 1054: Savings for Scholars Act. 106th Congress. Open America. https://openamerica.io/bill/106-S-1054/
MLA
"S. 1054: Savings for Scholars Act." 106th Congress, 2026, Open America, https://openamerica.io/bill/106-S-1054/.
Bluebook (legal)
S. 1054, 106th Cong. (2026), https://openamerica.io/bill/106-S-1054/.
Markdown link
[S. 1054: Savings for Scholars Act](https://openamerica.io/bill/106-S-1054/)
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