[Congressional Bills 107th Congress]
[From the U.S. Government Publishing Office]
[H.R. 5203 Introduced in House (IH)]







107th CONGRESS
  2d Session
                                H. R. 5203

To provide that the education savings incentives of the Economic Growth 
 and Tax Relief Reconciliation Act of 2001 shall be permanent, and for 
                            other purposes.


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                    IN THE HOUSE OF REPRESENTATIVES

                             July 24, 2002

 Mr. Hulshof introduced the following bill; which was referred to the 
                      Committee on Ways and Means

_______________________________________________________________________

                                 A BILL


 
To provide that the education savings incentives of the Economic Growth 
 and Tax Relief Reconciliation Act of 2001 shall be permanent, and for 
                            other purposes.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Education Savings and School 
Excellence Permanence Act of 2002''.

SEC. 2. EDUCATION SAVINGS INCENTIVES MADE PERMANENT.

    Section 901 of the Economic Growth and Tax Relief Reconciliation 
Act of 2001 is amended by adding at the end the following new 
subsection:
    ``(c) Exception.--Subsections (a) and (b) shall not apply to the 
provisions of, and amendments made by, subtitle A of title IV.''.

SEC. 3. TAX-FREE EXPENDITURES FROM EDUCATION SAVINGS ACCOUNTS FOR 
              QUALIFIED ELEMENTARY AND SECONDARY EDUCATION EXPENSES AT 
              HOME SCHOOLS.

    (a) In General.--Clause (i) of section 530(b)(4)(A) of the Internal 
Revenue Code of 1986 (defining qualified elementary and secondary 
education expenses) is amended by striking ``or religious'' and 
inserting ``religious, or home''.
    (b) Effective Date.--The amendment made by this section shall apply 
to taxable years beginning after December 31, 2002.
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