Higher Education Prepayment Tax Act of 1989

Summary

Higher Education Prepayment Tax Act of 1989 - Amends the Internal Revenue Code to exclude from gross income the value of any benefits (tuition, related educational expenses, and reasonable living expenses while away from home) provided in accordance with a qualified prepaid college education contract, except for payments by an employer under such a contract. Defines eligible contracts as those between a payor and either a State or one or more institutions of higher education under which: (1) educational benefits are provided to eligible beneficiaries enrolled in certain undergraduate or vocational courses in pursuit of a degree or certificate; and (2) all payments made by the payor must be deposited into a prepaid college education trust created by a State or by one or more qualified institutions of higher education for the exclusive purpose of funding benefits under such contracts.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

1. 13 April 1989

   Introduced

   Referred to the House Committee on Ways and Means.

   Source: IntroReferral

2. 13 April 1989

   Introduced

   Introduced in House

   Source: IntroReferral

3. 13 April 1989

   Introduced

   Introduced in House

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

• Introduced in House · undated · Official file

Documents

2 official files

• Introduced in House (text)

  Introduced in House · EN

  ViewDownloadOpen at official source

• Introduced in House

  summary · EN · 13 April 1989

  Open at official source

Sponsors

• Rep. Flippo, Ronnie G. [D-AL-5] · D · Sponsor
• · hswm00 · Standing

Related records

No cross-record relationships stored yet.