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S 141 110th Congress Senate

College Savings Act of 2007

Official title: A bill to amend the Internal Revenue Code of 1986 to permanently increase the maximum annual contribution allowed to be made to Coverdell education savings acc… Show full official titleShow less

Official title: A bill to amend the Internal Revenue Code of 1986 to permanently increase the maximum annual contribution allowed to be made to Coverdell education savings accounts, and to provide for a deduction for contributions to education savings accounts.

Introduced: January 4, 2007 Introduced by: Cantwell, Maria Democratic · Washington See on congress.gov
Taxation College costsCongressEducationEducation savings accounts
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Higher educationIncome taxSunset legislationTax deductionsTax exemptionTax penaltiesTax returns
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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 16, 2007
Sponsor introductory remarks on measure. (CR S572-573)
Jan 4, 2007
Read twice and referred to the Committee on Finance.
Jan 4, 2007
Introduced in Senate
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 Latest action January 16, 2007

Sponsor introductory remarks on measure. (CR S572-573)

 Plain-English summary Congressional Research Service

College Savings Act of 2007 - Amends the Internal Revenue Code to: (1) increase the maximum annual contribution limit for Coverdell education savings accounts from $2,000 to $5,000 and make such increase permanent; and (2) allow a tax deduction up to $5,000 for contributions to an education savings account.

 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
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APA
U.S. Congress. (2026). S. 141: College Savings Act of 2007. 110th Congress. Open America. https://openamerica.io/bill/110-S-141/
MLA
"S. 141: College Savings Act of 2007." 110th Congress, 2026, Open America, https://openamerica.io/bill/110-S-141/.
Bluebook (legal)
S. 141, 110th Cong. (2026), https://openamerica.io/bill/110-S-141/.
Markdown link
[S. 141: College Savings Act of 2007](https://openamerica.io/bill/110-S-141/)
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