House Bill 7021
115th Congress(2017-2018)
To amend the Internal Revenue Code of 1986 to provide for distributions from 529 plans to pay certain early education expenses.
Introduced
Introduced in House on Oct 2, 2018
Origin Chamber
House
Type
Bill
Bill
The primary form of legislative measure used to propose law. Depending on the chamber of origin, bills begin with a designation of either H.R. or S. Joint resolution is another form of legislative measure used to propose law.
Bill Number
7021
Congress
115
Policy Area
Taxation
Taxation
Primary focus of measure is all aspects of income, excise, property, inheritance, and employment taxes; tax administration and collection. Measures concerning state and local finance may fall under Economics and Public Finance policy area.
No House votes have been held for this bill.
Summary
This bill amends the Internal Revenue Code to allow tax-free distributions from qualified tuition programs (known as 529 plans) to be used for qualified early education expenses, subject to a limit of $10,000 per beneficiary.
"Qualified early education expenses" are expenses for providing educational and other care to a child under age 5 (including childcare provided before and after school), as determined under state law and pursuant to attendance at a school or facility licensed in the state for the purpose.
October 2, 2018
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10/02/2018
Referred to the House Committee on Ways and Means.
10/02/2018
Introduced in House
Public Record
Record Updated
Jan 11, 2023 1:41:16 PM