Proposed education tax bills

All bills can be located online at theThomas website.

-- HR 3585 would allow tax-free employer contributions to 529 plans and Coverdell ESAs as part of a section 127 educational assistance plan (introduced July 28, 2005 and referred to Ways and Means).

-- HR 2386 (introduced May 17, 2005) and S 1112 (introduced May 24, 2005) would permanently extend the Section 529 education savings provisions of the 2001 EGTRRA, including the exclusion of qualified 529 distributions from gross income.

-- HR 1518 would extend the exclusion for employer-provided educational assistance (Section 127 plans) to dependents of employees, capped at $2,500 in benefits per year (introduced April 6, 2005 by sponsor Rep. Ric Keller (R-Florida) and co-sponsors Reps. Mark Foley (R-Florida), and Phil English (R-Pennsylvania).

-- HR 4912 Affordable College Tuition Act of 2004 would expand the Hope credit to cover 50% of tuition for students who attend part-time for a portion of the year (introduced July 22, 2004 by Rep. Gary L. Ackerman, D-N.Y.)

-- HR 4283 College Access and Opportunity Act would alter federal student aid provisions (introduced May 5, 2004 by Boehner and referred to House Committee on Education and the Workforce)

-- S 2360 Nontraditional Student Success Act would enhance tax incentives for nontraditional students including an increase in the maximum Lifetime Learning credit (introduced April 29, 2004)

-- HR 4243 would provide a maximum $1,000 tax credit for the cost of purchasing college textbooks (introduced April 28, 2004)

-- S 2223 would expand the list of eligible educational institutions able to operate a Section 529 prepaid tuition plan to include certain student bond corporations majority-owned by ESOPs (introduced March 23, 2004)

-- HR 3773 would repeal the sunset of the 2001 EGTRRA tax breaks (introduced Feb 4, 2004 and referred to Committee on Ways and Means)

-- HR 3318 would permit employers to contribute to employees' 529 accounts or Coverdell ESAs, tax-free to the employee and deductible to the employer (introduced in the House by Rep. Jon Porter, R-Nev. on 10/16/03 and referred to Ways and Means)

-- HR 3230 would provide a maximum $16,000 catch-up contribution to a Coverdell ESA for a beneficiary born before 1998 (introduced October 2, 2003 and referred to Ways and Means)

-- HR 3251 would expand the Hope credit and eliminate the lifetime learning credit (introduced October 2, 2003 and referred to Ways and Means)
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