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HR 675 115th Congress House Taxation Elementary and secondary education Higher education Income tax exclusion Inflation and prices Student aid and college costs

Empowering Parents to Invest in Choice Act of 2017

Introduced: January 24, 2017 See on congress.gov
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 Everywhere this bill has been 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jan 24, 2017
Referred to the House Committee on Ways and Means.
Jan 24, 2017
Introduced in House
 Plain-English summary Congressional Research Service

Empowering Parents to Invest in Choice Act of 2017

This bill amends the Internal Revenue Code to allow the payment of qualified elementary and secondary education expenses from a tax-exempt qualified tuition program (known as a 529 plan). (Currently, such plans only pay qualified higher education expenses.)

Included as qualified elementary and secondary education expenses are expenses for: (1) tuition, fees, academic tutoring, special needs services, books, and supplies; (2) room and board, uniforms, transportation, and supplementary items and services; and (3) and computer technology or equipment, including Internet access.

The bill also increases from $2,000 to $12,000 the limit on the amount that may be contributed to a tax-exempt Coverdell education savings account. The new contribution limit is adjusted for inflation in each taxable year beginning after 2014.

What's happening now January 24, 2017

Referred to the House Committee on Ways and Means.

 Committees of jurisdiction 1
 Cosponsors 1
All 1 Republican 1