675 -- Empowering Parents to Invest in Choice Act of 2017 | Poliscope

Empowering Parents to Invest in Choice Act of 2017

675

115th Congress

Taxation

In Committee

Legislative Progress

✓

Introduced

Committee

Floor Vote

Other Chamber

Enacted

Introduced

January 24, 2017

Latest Action

January 24, 2017

Primary Sponsor

Patrick T. McHenryRepublican(NC)

Momentum (last 30 days)

score

0 actions · 0 new cosponsors · 0 votes

Speed vs cohort

0pct

0d open

vs 7,393 other HR bills in the 115th — cohort avg 50d

Summary

Empowering Parents to Invest in Choice Act of 201 7 This bill amends the Internal Revenue Code to allow the payment of qualified elementary and secondary education expenses from a tax-exempt qualified tuition program (known as a 529 plan). (Currently, such plans only pay qualified higher education expenses.) Included as qualified elementary and secondary education expenses are expenses for: (1) tuition, fees, academic tutoring, special needs services, books, and supplies; (2) room and board, uniforms, transportation, and supplementary items and services; and (3) and computer technology or equipment, including Internet access. The bill also increases from $2,000 to $12,000 the limit on the amount that may be contributed to a tax-exempt Coverdell education savings account. The new contribution limit is adjusted for inflation in each taxable year beginning after 2014.

Lobbying filings that explicitly cite this bill (1)

These links require the bill number to appear in the filing's source-reported specific issue text. Client expenses and lobbying-firm income are separate disclosure fields.

Filing registrants (1)

VANGUARD GROUP (1)

VANGUARD GROUPclient→VANGUARD GROUP

2017 · first_quarter · Taxation/Internal Revenue Code

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Cited source text, amounts, lobbyists, and targets

General tax issues related to mutual funds Issues related to tax incentives for retirement savings, including the potential for Roth mandates Commodity related investments, savings Capital gains and dividend tax rates Financial transaction tax proposals, including the Inclusive Prosperity Act of 2017 (H.R. 1144) and the College for All Act (H.R. 1880) Issues related to limitations on exclusion of municipal bond interest Issues related to the impact of tax reform proposals on the municipal bond market and issuers Issues related to 529 college savings plans; encourage retention of 529 plan tax incentives Issues related to allowing the payment of qualified elementary and secondary education expenses from 529 college savings plans, including the Empowering Parents to Invest in Choice Act (H.R. 675) Issues related to mobile workforce legislation, including the Mobile Workforce State Income Tax Simplification Act (S. 540, H.R. 1393) Issues related to legislation that would impact the American Opportunity Tax Credit and 529 Plan contribution eligibility Issues related to the excise tax on the excess benefit portion of high-cost employer sponsored health care plans (known as Cadillac plans)