S 426
118th Congress
Senate
Taxation
Inflation-Adjusted Education Investment Act
Introduced: February 15, 2023
Introduced by:
Kennedy, John
Republican
· Louisiana
See on congress.gov
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Feb 15, 2023
Read twice and referred to the Committee on Finance.
Feb 15, 2023
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 2023.
What's happening now
Read twice and referred to the Committee on Finance.
Committees of jurisdiction
1