HR 529

112th CONGRESS
1st Session

H. R. 529

To amend the Internal Revenue Code of 1986 to treat computer technology and equipment as eligible higher education expenses for 529 plans, to allow certain individuals a credit against income tax for contributions to 529 plans, and for other purposes.

IN THE HOUSE OF REPRESENTATIVES

February 8, 2011

Ms. JENKINS (for herself, Mr. KIND, Mr. WESTMORELAND, Mr. FILNER, Mr. SARBANES, Mr. CHAFFETZ, Mr. YARMUTH, Ms. LEE of California, and Mr. LEWIS of Georgia) introduced the following bill; which was referred to the Committee on Ways and Means


A BILL

To amend the Internal Revenue Code of 1986 to treat computer technology and equipment as eligible higher education expenses for 529 plans, to allow certain individuals a credit against income tax for contributions to 529 plans, and for other purposes.

SECTION 1. SHORT TITLE.

SEC. 2. COMPUTER TECHNOLOGY AND EQUIPMENT ALLOWED AS A QUALIFIED HIGHER EDUCATION EXPENSE FOR SECTION 529 ACCOUNTS.

SEC. 3. CREDIT FOR CONTRIBUTIONS TO 529 PLANS.

SEC. 4. INVESTMENT DIRECTION UNDER QUALIFIED TUITION PROGRAMS.

SEC. 5. EXCLUSION FROM GROSS INCOME FOR EMPLOYER CONTRIBUTIONS TO QUALIFIED TUITION PROGRAMS.

`SEC. 127A. EMPLOYER CONTRIBUTIONS TO QUALIFIED TUITION PROGRAMS.

END