Higher Education and Learning Promotion Act

Summary

Higher Education and Learning Promotion Act - Amends the Internal Revenue Code to establish nontaxable education investment accounts which shall permit annual contributions of not more than $1,500 for the account holder's qualified higher education costs. Subjects account distributions used for nonqualifying purposes to taxation, including an additional ten percent tax. Sets forth related reporting requirements. Makes the employer-provided educational assistance program exclusion permanent. Excludes from gross income distributions from a qualified state tuition program used for qualified higher education expenses (including room and board).

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Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 5 June 1997

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• Introduced in House (PDF)

  Introduced in House · EN · 5 June 1997

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• Introduced in House

  summary · EN · 5 June 1997

  Open at official source

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