Education IRA Plus Act of 2001

1/16/2023, 11:33 PM
Education IRA Plus Act of 2001 - Amends the education individual retirement account provisions of the Internal Revenue Code to increase the contribution limit from $500 to: (1) $1,000 beginning in taxable year 2002; (2) $1,500 beginning in taxable year 2003; and (3) $2,000 beginning in taxable year 2004.
Congress
107
Number
HR - 676
Introduced on
2001-02-14
# Amendments
0
Sponsors
+5
Cosponsors
+5

Variations and Revisions

2/14/2001
Text
PDF

Status of Legislation

Bill Introduced
Introduced to House
House to Vote
Introduced to Senate
Senate to Vote

Purpose and Summary

Education IRA Plus Act of 2001 - Amends the education individual retirement account provisions of the Internal Revenue Code to increase the contribution limit from $500 to: (1) $1,000 beginning in taxable year 2002; (2) $1,500 beginning in taxable year 2003; and (3) $2,000 beginning in taxable year 2004.
Alternative Names
Official Title as IntroducedTo amend the Internal Revenue Code of 1986 to increase the maximum amount allowable as an annual contributions to education individual retirement accounts from $500 to $2,000, phased in over 3 years.
Policy Areas
Taxation
Potential Impact
College costs•
Education•
Education savings accounts•
Higher education•
Income tax•
Personal income tax•
Tax exclusion

Comments

Related

Bill Update Alert:  Economic Growth and Tax Relief Reconciliation Act of 2001
Member:  Jo Ann Emerson
Member:  Saxby Chambliss
Member:  Rob Simmons
Member:  Ron Paul
Member:  Dan Burton
Member:  Ileana Ros-Lehtinen
Member:  John N. Hostettler
Member:  Anne M. Northup
Member:  Christopher Shays
Member:  Melissa A. Hart
Member:  Ed Whitfield
Member:  Bob Riley
Member:  Joseph R. Pitts
Member:  John J. Duncan, Jr.
Member:  James A. Leach
Member:  Doug Ose
Member:  Jim Nussle
Member:  Robert L. Ehrlich Jr.
Member:  Jim Ryun
Member:  Rick Boucher
Member:  Tom Latham
Member:  Richard H. Baker
Member:  Spencer Bachus

Recent Activity

Latest Summary11/28/2006
Education IRA Plus Act of 2001 - Amends the education individual retirement account provisions of the Internal Revenue Code to increase the contribution limit from $500 to: (1) $1,000 beginning in taxable year 2002; (2) $1,500 beginning in taxable ye...
Latest Action8/13/2001
See H.R.1836.