Education IRA Plus Act of 2001

House Bill 676 - Education IRA Plus Act of 2001: Overview, Status, and Impact

Hozzl · 2023-01-16T23:33:17Z

Explore the details of House Bill 676 Education IRA Plus Act of 2001 currently in Congress. Get insights into its purpose, current status, sponsors, and potential impact on Taxation. Stay informed on legislative developments.

1/16/2023, 11:33 PM

Congressional Summary of HR 676

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.

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Current Status of Bill HR 676

Bill HR 676 is currently in the status of Bill Introduced since February 14, 2001. Bill HR 676 was introduced during Congress 107 and was introduced to the House on February 14, 2001. Bill HR 676's most recent activity was See H.R.1836. as of August 13, 2001

Bipartisan Support of Bill HR 676

Total Number of Sponsors

Democrat Sponsors

Republican Sponsors

Unaffiliated Sponsors

Total Number of Cosponsors

Democrat Cosponsors

Republican Cosponsors

Unaffiliated Cosponsors

Policy Area and Potential Impact of Bill HR 676

Primary Policy Focus

Taxation

Potential Impact Areas

- College costs

- Education

- Education savings accounts

- Higher education

- Income tax

- Personal income tax

- Tax exclusion

Alternate Title(s) of Bill HR 676

Education IRA Plus Act of 2001

To 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.

Education IRA Plus Act of 2001