To amend the Internal Revenue Code of 1986 to provide that income of a child which is to be used for the child's educational expenses shall be taxed at the child's rates and not the parent's rates.

referredUnited States· United States Congress· EN

Introduced

23 January 1990

Last action

23 January 1990 · Introduced

Status

Referred to the House Committee on Ways and Means.

Sponsors

Rep. Emerson, Bill [R-MO-8], Rep. Ackerman, Gary L. [D-NY-5], Rep. Burton, Dan [R-IN-5], Rep. Roe, Robert A. [D-NJ-8], Sen. Kyl, Jon [R-AZ], Rep. Dornan, Robert K. [R-CA-46], Rep. Hyde, Henry J. [R-IL-6], Rep. Payne, Lewis F., Jr. [D-VA-5], Rep. James, Craig T. [R-FL-4], Rep. Frost, Martin [D-TX-24], Rep. Shays, Christopher [R-CT-4], Rep. Condit, Gary A. [D-CA-18], Rep. Lagomarsino, Robert J. [R-CA-19], Rep. McNulty, Michael R. [D-NY-23], Rep. Collins, Cardiss [D-IL-7], Rep. Lightfoot, Jim [R-IA-3], Rep. Mfume, Kweisi [D-MD-7], Rep. Armey, Richard K. [R-TX-26], Rep. Slattery, Jim [D-KS-2], Rep. Chapman, Jim [D-TX-1], Rep. Packard, Ron [R-CA-48], Rep. Clinger, William F., Jr. [R-PA-5], Rep. Smith, Christopher H. [R-NJ-4], Rep. Smith, Virginia [R-NE-3], Rep. Fish, Hamilton, Jr. [R-NY-19]

Subjects

Taxation

Source updated

7 February 2024

Taxation

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Summary

Amends the Internal Revenue Code to provide that income from any property of a child shall not be included in the net unearned income of the child for tax purposes if such income is used for the child's educational expenses. Establishes an excise tax if such amounts are used for any purpose other than the taxpayer's educational expenses. Requires such amounts to be used before the end of the taxable year in which the taxpayer attains age 24.

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

Timeline

23 January 1990
Introduced
Referred to the House Committee on Ways and Means.
Source: IntroReferral
23 January 1990
Introduced
Introduced in House
Source: IntroReferral
23 January 1990
Introduced
Introduced in House
Source: IntroReferral

Votes

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Versions

Introduced in House · — · Download file

Documents

2 official files

Introduced in House (text)

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Introduced in House (text)
Introduced in House · EN
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Introduced in House
summary · EN · 23 January 1990
Open at official source
Leesvertaling
Vertaal dit document naar jouw taal. PoliticalRepo bewaart geen aparte kopie per EU-taal.
Vertaal naar
Documentvertaling op verzoek met downloadbare PDF (logo + link naar de officiële bron). Het bronbestand blijft leidend.

Related records

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Sources

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Official source: https://www.congress.gov/bill/101st-congress/house-bill/3858
Open data entity: https://api.congress.gov/v3/bill/101/hr/3858
us · 101-hr-3858 · source updated 7 February 2024