Summary of Amendments Submitted to the Rules Committee for H.R. 529 - To amend the Internal Revenue Code of 1986 to improve 529 plans.

Summaries Derived from Information Provided by Sponsors

Listed in Alphabetical Order

Feb 24, 2015 4:19 PM

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Davis, Danny K. (IL)


Ensures that the important improvements to 529 programs within H.R. 529 will occur without adding to the deficit by making 529 plans available to taxpayers with adjusted gross incomes of $3 million or less.

Nugent (FL)


Removes the penalty associated with disbursing 529 funds for use in paying down student loans, but would not add student loans as a qualifying higher education expense and therefore would not change the taxable nature of such disbursements.