United States 114th Congress Status: Died 1 R cosponsors

S 335 — A bill to amend the Internal Revenue Code of 1986 to improve 529 plans.

Last action — Placed on Senate Legislative Calendar under General Orders. Calendar No. 97.

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  1. ✓
    Introduced
  2. Died in session

This bill died with 114th Congress. It reached “Introduced” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.

This bill is no longer active — its legislative session has ended, so there is no live prognosis. It would have to be reintroduced in the current session to move again.

Summary

A bill to amend the Internal Revenue Code of 1986 to improve 529 plans. (Sec. 2) This section amends the Internal Revenue Code to modify the types of higher education expenses that may be paid from a qualified tuition program (known as a 529 plan) to include expenses for the purchase of computer or peripheral equipment and computer software. This amendment applies to taxable years beginning after December 31, 2014. (Sec. 3) This section repeals, after 2014, the provision of the Internal Revenue Code that requires 529 plan accounts to be aggregated for purposes of calculating the amount of distributions that are includible in taxpayer income. (Sec. 4) This section amends the Internal Revenue Code to provide that a 529 plan beneficiary who receives a refund of higher education expenses after 2014 will not be required to include the amount of such refund in income for tax purposes if such beneficiary recontributes the refunded amount to the 529 plan within 60 days of receiving the refund and the recontribution does not exceed the refunded amount.

Bill Text

We don't have the full text on file for this bill yet.

Read S 335 on the official United States source →

Action History

  1. Placed on Senate Legislative Calendar under General Orders. Calendar No. 97.

  2. Committee on Finance. Reported by Senator Hatch with an amendment in the nature of a substitute. With written report No. 114-56.

  3. Committee on Finance. Ordered to be reported without amendment favorably.

  4. Read twice and referred to the Committee on Finance. (Sponsor introductory remarks on measure: CR S698-699)

Sponsors

Sponsorship breakdown

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1 sponsors · 0 co-sponsors · 546 not signed on

Sponsors (1)

Co-sponsors (0)

None.

Not signed on (546)

546 members have not signed on to this bill.

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"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.

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Subjects

Computers and information technology Educational technology and distance education Higher education Income tax exclusion Student aid and college costs Taxation
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Frequently asked questions

What does S 335 do?
A bill to amend the Internal Revenue Code of 1986 to improve 529 plans. (Sec. 2) This section amends the Internal Revenue Code to modify the types of higher education expenses that may be paid from a qualified tuition program (known as a 529 plan) to include expenses for the purchase of computer or peripheral equipment and computer software. This amendment applies to taxable years beginning after December 31, 2014. (Sec. 3) This section repeals, after 2014, the provision of the Internal Revenue Code that requires 529 plan accounts to be aggregated for purposes of calculating the amount of distributions that are includible in taxpayer income. (Sec. 4) This section amends the Internal Revenue Code to provide that a 529 plan beneficiary who receives a refund of higher education expenses after 2014 will not be required to include the amount of such refund in income for tax purposes if such beneficiary recontributes the refunded amount to the 529 plan within 60 days of receiving the refund and the recontribution does not exceed the refunded amount.
Who sponsors S 335?
S 335 is sponsored by Chuck Grassley (R).
What is the current status of S 335?
This bill died with 114th Congress. It reached “Introduced” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.
Where can I track S 335?
Track S 335 free on One Click Politics — get push/email alerts when it moves.

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