ACE Act

Summary

Achieving Choice in Education Act or the ACE Act This bill modifies provisions of qualified tuition programs (i.e., 529 plans) and provides other tax incentives to promote education. Specifically, the bill expands the definition of qualified higher education expense to include tuition, books or instructional material, fees, and educational therapies for disabled students. It also increases to $20,000 the limitation on distributions from 529 plans for elementary and secondary school expenses.  Further, the bill provides for an increased gift tax exclusion for contributions to 529 plans and limits tax-exempt bond financing to states that implement school choice laws. 

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Timeline

1. 14 December 2023

   Introduced

   Read twice and referred to the Committee on Finance.

   Source: IntroReferral

2. 14 December 2023

   Introduced

   Introduced in Senate

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

• Introduced in Senate · 14 December 2023 · Download file

Documents

3 official files

• Introduced in Senate (text)

  Introduced in Senate · EN · 14 December 2023

  ViewDownloadOpen at official source

• Introduced in Senate (PDF)

  Introduced in Senate · EN · 14 December 2023

  ViewDownloadOpen at official source

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• Introduced in Senate

  summary · EN · 14 December 2023

  Open at official source

  Leesvertaling

  Vertaal dit document naar jouw taal. PoliticalRepo bewaart geen aparte kopie per EU-taal.

  Vertaal naarNL · DutchDE · GermanFR · FrenchES · SpanishIT · ItalianPL · PolishPT · PortugueseSV · SwedishDA · DanishFI · FinnishEL · GreekCS · CzechHU · HungarianRO · RomanianBG · BulgarianHR · CroatianSK · SlovakSL · SlovenianLT · LithuanianLV · LatvianET · EstonianGA · IrishMT · Maltese

  Vertaal document

  Documentvertaling op verzoek met downloadbare PDF (logo + link naar de officiële bron). Het bronbestand blijft leidend.

Sponsors

• Sen. Lee, Mike [R-UT] · R · Sponsor
• Sen. Scott, Tim [R-SC] · R · Sponsor
• Sen. Braun, Mike [R-IN] · R · Cosponsor
• Sen. Hyde-Smith, Cindy [R-MS] · R · Cosponsor
• Sen. Schmitt, Eric [R-MO] · R · Cosponsor
• Sen. Budd, Ted [R-NC] · R · Cosponsor
• · ssfi00 · Standing

Related records

• related to → Student Empowerment Act
• related to → Student Empowerment Act
• related to ← ACE Act