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S 243 114th Congress Senate

ACE Act

Official title: A bill to amend the Internal Revenue Code of 1986 to increase the contribution limit for Coverdell education savings accounts from $2,000 to $5,000, and for other purposes.

Introduced: January 22, 2015 Introduced by: Fischer, Deb Republican · Nebraska See on congress.gov
Taxation Bank accounts, deposits, capitalElementary and secondary educationHigher educationIncome tax exclusion
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School athleticsStudent aid and college costs
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This bill died when the 114th Congress ended
It never became law before the 114th Congress (2015–2016) 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
Jan 22, 2015
Read twice and referred to the Committee on Finance.
Jan 22, 2015
Introduced in Senate
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 Latest action January 22, 2015

Read twice and referred to the Committee on Finance.

 Plain-English summary Congressional Research Service

Allocating for Children's Education Act or the ACE Act

Amends the Internal Revenue Code, with respect to Coverdale education savings accounts, to: (1) increase from $2,000 to $5,000 the maximum allowable contribution to such accounts in a taxable year, and (2) allow distributions from such accounts for the purchase of athletic equipment at elementary and secondary schools. 

 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
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APA
U.S. Congress. (2026). S. 243: ACE Act. 114th Congress. Open America. https://openamerica.io/bill/114-S-243/
MLA
"S. 243: ACE Act." 114th Congress, 2026, Open America, https://openamerica.io/bill/114-S-243/.
Bluebook (legal)
S. 243, 114th Cong. (2026), https://openamerica.io/bill/114-S-243/.
Markdown link
[S. 243: ACE Act](https://openamerica.io/bill/114-S-243/)
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