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)

#2

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)

#1

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.