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<bill bill-stage="Introduced-in-Senate" public-private="public"><metadata xmlns:dc="http://purl.org/dc/elements/1.1/"> |
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<dublinCore> |
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<dc:title>114 S101 IS: To amend the Internal Revenue Code of 1986 to expand the Coverdell education savings accounts to allow home school education expenses, and for other purposes.</dc:title> |
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<dc:publisher>U.S. Senate</dc:publisher> |
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<dc:date>2015-01-07</dc:date> |
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<dc:format>text/xml</dc:format> |
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<dc:language>EN</dc:language> |
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<dc:rights>Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain.</dc:rights> |
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<distribution-code display="yes">II</distribution-code><congress>114th CONGRESS</congress><session>1st Session</session><legis-num>S. 101</legis-num><current-chamber>IN THE SENATE OF THE UNITED STATES</current-chamber><action><action-date date="20150107">January 7, 2015</action-date><action-desc><sponsor name-id="S299">Mr. Vitter</sponsor> introduced the following bill; which was read twice and referred to the <committee-name committee-id="SSFI00">Committee on Finance</committee-name></action-desc></action><legis-type>A BILL</legis-type><official-title>To amend the Internal Revenue Code of 1986 to expand the Coverdell education savings accounts to |
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allow home school education expenses, and for other purposes.</official-title></form><legis-body><section id="id783AD86B538240D58E200B215F2EE2FD" section-type="section-one"><enum>1.</enum><header>Allowance of home school |
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expenses as qualified education expenses for purposes of a Coverdell |
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Education |
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Savings Account</header><subsection id="id1E1FCB8825E147C78906A5C5FC723824"><enum>(a)</enum><header>In |
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General</header><text>Paragraph (3) of <external-xref legal-doc="usc" parsable-cite="usc/26/530">section 530(b)</external-xref> of the Internal Revenue Code of 1986 is amended by adding at the end the following new subparagraph:</text><quoted-block display-inline="no-display-inline" id="idE1F5680DFFED43D79672D83625CA49E5" style="OLC"><subparagraph id="id8C61902A8FBA4AD9BA2D5732195F75CF"><enum>(C)</enum><header>Private |
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school</header><text>For purposes of this section, the term ‘private school’ includes any home school that meets the requirements of State law applicable to such home schools, whether or not such school is deemed a private school for purposes of State law.</text></subparagraph><after-quoted-block>.</after-quoted-block></quoted-block></subsection><subsection id="id00E5DC5FEA3D4778B93C5FC6748E5CAC"><enum>(b)</enum><header>Effective |
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Date</header><text>The amendment made by this section shall apply to taxable years beginning after December 31, 2014.</text></subsection></section><section id="id8F508F9CFB424D6F8DFF3479E59B88F5"><enum>2.</enum><header>Coverdell |
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Education Savings Account contributions indexed to inflation</header><subsection id="idF69F5B7A0BA644A5AFF97A2EBEE3E735"><enum>(a)</enum><header>In |
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general</header><text display-inline="yes-display-inline">Subsection (b) of <external-xref legal-doc="usc" parsable-cite="usc/26/530">section 530</external-xref> of the Internal Revenue Code of 1986 is amended by adding at the end the following new paragraph:</text><quoted-block display-inline="no-display-inline" id="idEFF45643C7E94F7494355C9AF6C16283" style="OLC"><paragraph id="id8B43A8D4BE3C4310AF7D5EA038CF7478"><enum>(5)</enum><header>Adjustment for |
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inflation</header><text>In the case of a taxable year beginning in a calendar year after 2014, the dollar amount in paragraph (1)(A)(iii) shall be increased by an amount equal to—</text><subparagraph id="id6D6F6A8CF9D34808B103932607A1E38F"><enum>(A)</enum><text>such amount, multiplied by</text></subparagraph><subparagraph id="id268D96F80A9F4AAFA658022DCD9E6BD7"><enum>(B)</enum><text>the cost-of-living adjustment determined under section 1(f)(3) for such calendar year by substituting ‘calendar year 2013’ for ‘calendar year 1992’ in subparagraph (B) thereof.</text></subparagraph></paragraph><after-quoted-block>.</after-quoted-block></quoted-block></subsection><subsection id="id0C1272C3E51A4E24A2B4592961A620C0"><enum>(b)</enum><header>Effective |
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Date</header><text>The amendment made by this section shall apply to taxable years beginning after December 31, 2014.</text></subsection></section></legis-body></bill> |
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