Legislative Corner

Welcome to Savingforcollege.coms Legislative Corner!

Here you will find the latest news and information on state and federal legislative issues related to 529 plans and other college savings topics. At, we believe everyone deserves the right to higher education. Yet tuition costs are continuing to rise faster than inflation, leaving many students with crippling amounts of student loan debt, or worse, no chance for a degree at all. Tax-advantaged investment vehicles like 529 plans can help reduce student borrowing and make the dream of college a reality for more American families.

Since the federal tax benefits of 529 plans became available in 2001, weve seen assets grow from $19.4 billion to over $254 billion today, which proves that the incentive is working. We ask that you join us in promoting and defending college savings plans by contacting your representatives on any particular bill or agenda you feel strongly about.

Be sure to check back often and help continue to be your voice and the voice of college savings in Washington.

Pending Legislation

Impacting 529 and 529A Plans

H. R. 4236 - Financial Security Credit Act of 2015

To promote savings by providing a ($500 or less) tax credit for eligible taxpayers who contribute to savings products (including 529 Plans) and to facilitate taxpayers receiving this credit and open a designated savings product when they file their Federal income tax returns.

H. R. 4813 - ABLE Age Adjustment Act

To amend the Internal Revenue Code of 1986 to increase the age requirement with respect to eligibility for qualified ABLE programs (from 26 to 46).

H. R. 4872 - Save for Success Act

To amend the Internal Revenue Code of 1986 to reform the American opportunity tax credit to support college savings.

H. R. 4795 - ABLE to Work Act of 2016

To amend the Internal Revenue Code of 1986 to allow individuals with disabilities to save additional amounts in their ABLE accounts above the current annual maximum contribution if they work and earn income.

S. 2869 - Boost Saving for College Act

To amend the Internal Revenue Code of 1986 to improve college savings under section 529 programs, and for other purposes. See our full article here:

S. 2759 - Credit for Caring Act of 2016

To amend the Internal Revenue Code of 1986 to provide a nonrefundable credit for working family caregivers.

S. 2703 - ABLE Financial Planning Act

To amend the Internal Revenue Code of 1986 to allow rollovers between 529 programs and ABLE accounts.

H. R. 4891 - Technical Corrections Act of 2016

To amend the Internal Revenue Code of 1986 to make technical corrections, and for other purposes.

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Featured articles on 529 legislation

H.R. 529 offers big benefits to college savers

New legislation might make 529 plans more alluring, but will it actually pass?
Read more

529 Day Webcast Recap

Did you miss our 529 Day live Q&A webinar? Here's a recap of all the great college savings topics that were covered.
Read more

Will the Student Aid Bill of Rights help your family?

Last week President Obama signed a presidential memorandum outlining a plan intended to help dissolve the student debt crisis. The Student Aid Bill of Rights focuses on four key issues related to helping students pay for college and helping graduates manage and repay their student loans.
Read more

Why can't you donate your 529 plan to charity?

Donating a 529 account to charity might seem like the perfect solution for some who have leftover money in their account. Unfortunately, the tax law as it is currently written prevents this.
Read more

See more articles


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