H. R. 5932
IN THE HOUSE OF REPRESENTATIVES
June 8, 2012
Ms. Buerkle (for herself, Mr. Paul, and Mr. Kelly) introduced the following bill; which was referred to the Committee on Ways and Means
To amend the Internal Revenue Code of 1986 to allow 529 tuition programs with respect to elementary and secondary education expenses.
This Act may be cited as the
Expand Opportunity for Education
Savings Act of 2012.
529 programs for elementary and secondary education expenses
Paragraph (5) of section 529(e) of the Internal Revenue Code of 1986 is amended to read as follows:
Eligible educational institution
The term eligible educational institution means an institution—
is described in section 481 of the Higher Education Act of 1965 (20 U.S.C. 1088), as in effect on the date of the enactment of this subsection, and
which is eligible to participate in a program under title IV of such Act, or
which provides elementary education or secondary education (kindergarten through grade 12), as determined under State law.
Special rule for room and board
Subparagraph (B) of section 529(e)(3) of such Code is amended by adding at the end the following new clause:
Special rule for elementary and secondary education
In the case of an eligible educational institution described in paragraph (5)(B), clause (ii)(I) shall not apply.
Section 529 of
such Code is amended by striking
higher education each place it
appears and inserting
The heading for
subparagraph (B) of section 529(c)(3) of such Code is amended by striking
The amendments made by this section shall apply to distributions made after the date of the enactment of this Act.