118th Congress Taxation
S. 3520: ACE Act
Introduced
- Introduced (completed)
- Passed Senate (not reached)
- Passed House (not reached)
- To the President (not reached)
- Became law (not reached)
Summary
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.
Written by the Congressional Research Service, Library of Congress.
Roll calls
No roll call votes have been held on this bill.
Amendments
No amendments were offered to this bill.
Cosponsors
- Tim Scott R-SCOriginal
- Mike Braun R-IN
- Cindy Hyde-Smith R-MS
- Eric Schmitt R-MO
- Ted Budd R-NC
Who scored on this bill
No member has earned points from it yet.
See all scorers and every scoring event
Introductions and cosponsorships count toward weekly caps and show no points.
Other bills by Mike Lee
- S. 3743: To direct the Secretary of the Interior to carry out a feasibility study on a selective water withdrawal system at Glen Canyon Dam, and for other purposes
- S. 5039: License to Drill Act
- S. 3331: 2nd Lieutenant Mitch Williams Post Office (Moab, UT)
- S. 1954: Biosimilar Red Tape Elimination Act
- S. 4708: Arctic Security and Diplomacy Act
- S. 1860: Brian Head Town Land Conveyance Act
History
- Introduced in the Senate by Mike Lee.
Show the full action history (2 actions)
- Introduced in Senate
- Read twice and referred to the Committee on Finance.