Education Savings and School Excellence Act of 2000

Summary

Education Savings and School Excellence Act of 1999 - Amends the Internal Revenue Code with respect to educational individual retirement accounts (IRAs) to: (1) permit distributions for qualified elementary and secondary education expenses, including home schooling expenses; (2) increase the annual contribution limit; (3) waive the beneficiary age limitation for contributions on behalf of special needs beneficiaries; and (4) permit corporate contributions. (Sec. 3) Excludes from a beneficiary's gross income distributions from qualified State tuition programs (or from certain prepaid tuition programs established by educational institutions), except to the extent that they exceed qualified higher education expenses. Expands the definition of such expenses. Denies allowance of any other deduction or credit for any qualified education expenses taken into account in determining exclusion from gross income of education IRA distributions. Defines "excess contributions" with respect to private qualified tuition programs. (Sec. 4) Makes permanent the exclusion from employee gross income of employer-provided educational assistance. (Sec. 5) Increases the amount by which certain governmental bonds used to finance public school capital expenditures may be exempted from specified arbitrage bond provisions. (Sec. 6) Excludes from gross income certain amounts received under the National Health Corps Scholarship Program and the Armed Forces Health Professions Scholarship and Financial Assistance Program.

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Documents

6 official files

• Reported in House (text)

  Reported in House · EN · 24 March 2000

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• Reported in House (PDF)

  Reported in House · EN · 24 March 2000

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• Reported to House with amendment(s)

  summary · EN · 24 March 2000

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• Introduced in House (text)

  Introduced in House · EN · 1 March 1999

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• Introduced in House (PDF)

  Introduced in House · EN · 1 March 1999

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• Introduced in House

  summary · EN · 1 March 1999

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