[Congressional Record Volume 161, Number 13 (Tuesday, January 27, 2015)]
[House]
[Page H585]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                     MODERNIZING 529 SAVINGS PLANS

  (Ms. JENKINS of Kansas asked and was given permission to address the 
House for 1 minute and to revise and extend her remarks.)
  Ms. JENKINS of Kansas. Mr. Speaker, I rise today in support of H.R. 
529, a bill that Congressman Kind of Wisconsin and I introduced to make 
sensible enhancements to 529 college savings plans.
  The 529 plans enjoy growing popularity, primarily with middle class 
families who are looking for ways to responsibly prepare for the 
growing cost of college. The 12 million 529 accountholders across the 
country are able to choose a plan whose funds will then grow and be 
withdrawn tax free to pay for college expenses such as tuition or room 
and board.
  H.R. 529 will make several technical changes to 529 plans that will 
allow students to purchase a computer using their 529 funds, remove the 
unnecessary distribution aggregation requirements from the accounts, 
and allow 529 funds to be redeposited if the student withdraws from 
college. These modernizations will allow 529 plans to help families get 
the most out of their savings.
  I ask my colleagues to join me in this effort.

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