Why Should I Vote On BetterDistricts?

Polling is a powerful tool to help our elected officials determine how they should vote.

Standard polling methods don't give you the control that you deserve. With BetterDistricts you can show your representative exactly how strongly a bill is supported in your community.

Send a clear signal on how you want your government to work.

 

H.R. 7021 - To amend the Internal Revenue Code of 1986 to provide for distributions from 529 plans to pay certain early education expenses.

Sponsor: Erik Paulsen (R)
Introduced: 2018-10-02
Bill Status: Referred to the House Committee on Ways and Means.
 
Summary Not Available

Full Text


115th CONGRESS
2d Session
H. R. 7021


    To amend the Internal Revenue Code of 1986 to provide for distributions from 529 plans to pay certain early education expenses.


IN THE HOUSE OF REPRESENTATIVES

October 2, 2018

    Mr. Paulsen (for himself and Mr. Coffman) introduced the following bill; which was referred to the Committee on Ways and Means


A BILL

    To amend the Internal Revenue Code of 1986 to provide for distributions from 529 plans to pay certain early education expenses.

Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,

SECTION 1. Distributions from 529 plans for certain early education expenses.

(a) In general.—Section 529(e)(3) of the Internal Revenue Code of 1986 is amended by adding at the end the following new subparagraph:

“(C) SPECIAL RULES PERMITTING LIMITED TREATMENT OF QUALIFIED EARLY EDUCATION EXPENSES.—

“(i) IN GENERAL.—Except as provided in clause (ii), qualified early education expenses shall be treated as qualified higher education expenses.

“(ii) LIMITATION.—If the aggregate amount of cash distributions from all qualified tuition programs described in subsection (b)(1)(A)(ii) with respect to a beneficiary for qualified early education expenses during any taxable year exceeds $10,000, such excess shall be treated for purposes of subsection (c)(3) as distributions in excess of the qualified higher education expenses of the beneficiary.

“(iii) QUALIFIED EARLY EDUCATION EXPENSES.—For purposes of this subparagraph, the term ‘qualified early education expenses’ means expenses for providing educational and other care to a child under age 5 (including childcare provided before and after school), as determined under the law of the State, pursuant to attendance at a school or facility licensed in the State for such purpose.”.

(b) Effective date.—The amendment made by this section shall apply to taxable years beginning after December 31, 2018.


Relevant News Stories And Blog Posts

Title Worth Reading

Vote on H.R. 7021

 

Activity in last 30 days