H.R. 529, the Savings Enhancement for Education in College Act

H.R. 529 reinstates the inclusion of computer technology and equipment by a student as eligible higher education expenses for college savings plans authorized under Section 529 of the Internal Revenue Code.  This bill also: (1) extends the current retirement saver’s credit to include contributions to a 529 plan; (2) increases the number of permitted investment changes in a 529 account within the calendar year from one to four; and allows employers to make matching contributions to 529 accounts tax-free up to $600 per year.  

Introduced:

February 8, 2011

Sponsor:

Rep. Lynn Jenkins (R-KS)

Cosponsors:

Rep. Tammy Baldwin (D-WI)

Rep. Earl Blumenauer (D-OR)

Rep. Dan Burton (R-IN)

Rep. Jason Chaffetz (R-UT)

Rep. Howard Coble (R-NC)

Rep. Bob Filner (D-CA)

Rep. J. Randy Forbes (R-VA)

Rep. Ron Kind (D-WI)

Rep. Barbara Lee (D-CA)

Rep. John Lewis (D-GA)

Rep. Stephen Lynch (D-MA)

Rep. Jim McDermott (D-WA)

Rep. John Sarbanes (D-MD)

Rep. Niki Tsongas (D-MA)

Rep. Lynn Westmoreland (R-GA)

Rep. Robert J. Wittman (R-VA)

Rep. John Yarmuth (D-KY)

Status:

Referred to the House Committee on Ways and Means (2/8/2011)

Last Action:

Referred to House Committee on Ways and Means (2/8/2011)