S 4265
117th Congress
Senate
Taxation
Inflation-Adjusted Education Investment Act
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
May 19, 2022
Read twice and referred to the Committee on Finance.
May 19, 2022
Introduced in Senate
Plain-English summary
Inflation-Adjusted Education Investment Act
This bill modifies provisions relating to qualified tuition programs (i.e., tax-exempt 529 plans). Specifically, it increases from $10,000 to $12,000 the limitation under such programs on payments for educational expenses, including expenses for tuition in connection with enrollment or attendance at an elementary or secondary public, private, or religious school. The bill provides for an annual inflation adjustment to the increased limitation amount for taxable years beginning after 2022.
What's happening now
Read twice and referred to the Committee on Finance.
Committees of jurisdiction
1