529 tax permanency bill is introduced in Congress
The College 529 InvEST (Education Savings for Tomorrow) Act of 2005 has been introduced into the U.S. House of Representatives by Ways and Means Committee members Nancy Johnson (R-CT), Melissa Hart (R-PA), and Earl Pomeroy (D-ND). The bill would remove the 2010 "sunset" of the 529 tax exclusion, thus making permanent federal tax-free treatment for qualified 529 withdrawals.
It is anticipated that similar bi-partisan legislation will be introduced into the Senate next week by Senators Charles Grassley (PA) and Max Baucus (MT).
Return to 529 News centerIt is anticipated that similar bi-partisan legislation will be introduced into the Senate next week by Senators Charles Grassley (PA) and Max Baucus (MT).