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119th CONGRESS
2d Session |
To amend the Internal Revenue Code of 1986 to permit fees for admissions applications to higher education institutions to be paid from a 529 plan, and for other purposes.
Ms. Bynum introduced the following bill; which was referred to the Committee on Ways and Means
To amend the Internal Revenue Code of 1986 to permit fees for admissions applications to higher education institutions to be paid from a 529 plan, and for other purposes.
Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,
This Act may be cited as the “Application Fees as Eligible Expenses Act” or the “Application FEES Act”.
SEC. 2. PAYMENT FROM 529 PLAN OF FEES FOR ADMISSIONS APPLICATIONS TO HIGHER EDUCATION INSTITUTIONS.
(a) In general.—Section 529(e)(3)(A) of the Internal Revenue Code of 1986 is amended by striking “and” at the end of clause (ii), by striking the period at the end of clause (iii) and inserting “, and”, and by inserting after clause (iii) the following new clause:
“(iv) fees required of the beneficiary to apply for admission to any eligible educational institution.”.
(b) Effective date.—The amendments made by this section shall apply to distributions made after the date of the enactment of this Act.