To amend the Internal Revenue Code of 1986 to improve 529 plans.

Summary

Amends the Internal Revenue Code, with respect to tax-exempt qualified tuition programs (529 plans), to: (1) make permanent the allowance for computer technology and equipment expenses and require that such technology and equipment be used primarily by the plan beneficiary (formerly, beneficiary and beneficiary's family); (2) allow contributors to a 529 plan or a plan beneficiary to direct plan investments, but not more frequently than four times per calendar year; (3) permit a recontribution to a 529 plan of amounts refunded to a student who withdraws from an educational institution if the recontribution is made not later than 60 days after the date of such refund and does not exceed the refunded amount; and (4) allow tax-free rollovers to a Roth individual retirement account (Roth IRA) of distributions from a qualified tuition program which has been maintained by the account holder for a 10-year period.

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Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 27 March 2014

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• Introduced in House (PDF)

  Introduced in House · EN · 27 March 2014

  ViewDownloadOpen at official source

• Introduced in House

  summary · EN · 27 March 2014

  Open at official source

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