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HR 590 110th Congress House

Student Financial Readiness Act of 2007

Official title: To amend the Internal Revenue Code of 1986 to increase the annual contribution limit to Coverdell education savings accounts, and for other purposes.

Introduced: February 5, 2007 See on congress.gov
Taxation College costsCost of living adjustmentsEconomics and Public FinanceEducation
More subjectsShow fewer subjects
Education savings accountsHigher educationIncome taxIndexing (Economic policy)Tax exemption
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This bill died when the 110th Congress ended
It never became law before the 110th Congress (2007–2008) 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
Jan 19, 2007
Introduced in House
Jan 19, 2007
Referred to the House Committee on Ways and Means.
Jan 19, 2007
Sponsor introductory remarks on measure. (CR E154)
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 Latest action January 19, 2007

Referred to the House Committee on Ways and Means.

 Plain-English summary Congressional Research Service

Student Financial Readiness Act of 2007 - Amends the Internal Revenue Code to: (1) increase from $2,000 to $5,000 the annual contribution limit to Coverdell education savings accounts; (2) adjust such contribution limit for inflation after 2007; and (3) prohibit contributions by individuals whose modified adjusted gross income exceeds $150,000 ($300,000 for married couples filing joint tax returns).

 Related & companion bills 1
  • HR 2588 Related bill Comprehensive Coverdell Modernization Act of 2007
 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
 Cosponsors 3
All 3 Democratic 1 Republican 2
D
Cuellar, Henry
Texas · Mar 1, 2007
 R
Walberg, Tim
Michigan · Feb 28, 2007
 R
McCaul, Michael T.
Texas · Feb 5, 2007
Cite this page click to expand
APA
U.S. Congress. (2026). H.R. 590: Student Financial Readiness Act of 2007. 110th Congress. Open America. https://openamerica.io/bill/110-HR-590/
MLA
"H.R. 590: Student Financial Readiness Act of 2007." 110th Congress, 2026, Open America, https://openamerica.io/bill/110-HR-590/.
Bluebook (legal)
H.R. 590, 110th Cong. (2026), https://openamerica.io/bill/110-HR-590/.
Markdown link
[H.R. 590: Student Financial Readiness Act of 2007](https://openamerica.io/bill/110-HR-590/)
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