HR 675 · 115th Congress · Taxation

Empowering Parents to Invest in Choice Act of 2017

Introduced 2017-01-24· Sponsored by Rep. McHenry, Patrick T. [R-NC-10]· House

Bill Progress

Introduced
2
Committee
3
House Vote
4
Senate
5
Enacted
Latest: Referred to the House Committee on Ways and Means.(2017-01-24)

Plain Language Summary

[AI summary unavailable — showing source text] Empowering Parents to Invest in Choice Act of 201 7 This bill amends the Internal Revenue Code to allow the payment of qualified elementary and secondary education expenses from a tax-exempt qualified tuition program (known as a 529 plan). (Currently, such plans only pay qualified higher education expenses.) Included as qualified elementary and secondary education expenses are expenses for: (1) tuition, fees, academic tutoring, special needs services, books, and supplies; (2) room and board, uniforms, transportation, and supplementary items and services; and (3) and computer technology or equipment, including Internet access. The bill also increases from $2,000 to $12,000 the limit on the amount that may be contributed to a tax-exempt Coverdell education savings account. The new contribution limit is adjusted for inflation in each taxable year beginning after 2014.…

Summarized by Claude AI · Non-partisan · For informational purposes only

Cosponsors (1)

1 Republican