Inflation-Adjusted Education Investment Act

Senate Bill 4265 - Inflation-Adjusted Education Investment Act: Overview, Status, and Impact

Hozzl · 2022-12-29T16:48:35Z

Explore the details of Senate Bill 4265 Inflation-Adjusted Education Investment Act currently in Congress. Get insights into its purpose, current status, sponsors, and potential impact on Taxation. Stay informed on legislative developments.

12/29/2022, 4:48 PM

Congressional Summary of S 4265

Inflation-Adjusted Education Investment Act

This bill modifies provisions relating to qualified tuition programs (i.e., tax-exempt 529 plans). Specifically, it increases from $10,000 to $12,000 the limitation under such programs on payments for educational expenses, including expenses for tuition in connection with enrollment or attendance at an elementary or secondary public, private, or religious school. The bill provides for an annual inflation adjustment to the increased limitation amount for taxable years beginning after 2022.

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Current Status of Bill S 4265

Bill S 4265 is currently in the status of Bill Introduced since May 19, 2022. Bill S 4265 was introduced during Congress 117 and was introduced to the Senate on May 19, 2022. Bill S 4265's most recent activity was Read twice and referred to the Committee on Finance. as of May 19, 2022

Bipartisan Support of Bill S 4265

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 S 4265

Primary Policy Focus

Taxation

Alternate Title(s) of Bill S 4265

Inflation-Adjusted Education Investment Act

A bill to amend the Internal Revenue Code of 1986 to increase and provide an inflation adjustment for the limitation on distributions from qualified tuition programs that may be used for elementary and secondary tuition.