[Congressional Bills 108th Congress]
[From the U.S. Government Publishing Office]
[S. 2223 Introduced in Senate (IS)]







108th CONGRESS
  2d Session
                                S. 2223

  To expand the list of entities eligible to establish and maintain a 
  qualified tuition program under section 529 of the Internal Revenue 
                             Code of 1986.


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                   IN THE SENATE OF THE UNITED STATES

                             March 23, 2004

  Mr. Daschle introduced the following bill; which was read twice and 
                  referred to the Committee on Finance

_______________________________________________________________________

                                 A BILL


 
  To expand the list of entities eligible to establish and maintain a 
  qualified tuition program under section 529 of the Internal Revenue 
                             Code of 1986.

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

SECTION 1. ADDITIONAL ELIGIBLE ENTITIES FOR QUALIFIED TUITION PROGRAMS.

    (a) In General.--For purposes of section 529 of the Internal 
Revenue Code of 1986, an eligible educational institution shall be 
deemed to include a corporation--
            (1) which is a transferee corporation (within the meaning 
        of section 150(d)(3) of such Code) of a corporation described 
        in section 150(d) of such Code, and
            (2) a majority of the outstanding stock of which is owned 
        by an employee stock ownership plan (as defined in section 
        4975(e)(7) of such Code).
    (b) Effective Date.--Subsection (a) shall take effect with respect 
to any qualified tuition program established after the date of the 
enactment of this Act.
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