What is the official ID of this bill?

The official print number for this legislation is HR 499.

When did the legislative process begin?

The process officially started on 2021-01-28.

Where can I read the full text of this legislation?

The full official text is available at: https://www.congress.gov/117/bills/hr499/BILLS-117hr499ih.htm

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2026-01-02.

Who is the primary sponsor?

The primary sponsor is Rep. Banks, Jim [R-IN-3].

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

What is the latest detailed status?

The latest detailed status is: Referred to the Subcommittee on Worker and Family Support.

Analysis and Potential Impact of HR 499

We don't know, that is up to you to decide. Summarizing raw data with AI is fundamentally different from predicting socio-economic outcomes. As of 2026, we believe impact assessment strictly requires a human in the loop to verify and judge. Review our public AI processing logs for full transparency, and use Lustra to track active legislation for instant status push notifications.

Education Savings Accounts for Military Families Act

Q: What are the main provisions?

Key points include: Establishes Military Education Savings Accounts for eligible children of active-duty military dependents. Parents can use funds for a wide range of expenses, including private schools, tutoring, online programs, and higher education. Accounts are tax-exempt, and contributions and distributions are not included in gross income. In case of insufficient funds, priority is given to: renewing accounts, siblings of account holders, children of enlisted members, and then children of warrant officers. The initial deposit amount is $6,000 per year, with annual adjustments based on the Chained Consumer Price Index.

This act establishes special education savings accounts for eligible children of active-duty military personnel. Parents can use these funds for various educational expenses, from private schools to extracurricular activities. These funds are tax-exempt, and the program includes a lottery system for funding distribution if appropriations are insufficient.

Key points

Establishes Military Education Savings Accounts for eligible children of active-duty military dependents.

Parents can use funds for a wide range of expenses, including private schools, tutoring, online programs, and higher education.

Accounts are tax-exempt, and contributions and distributions are not included in gross income.

In case of insufficient funds, priority is given to: renewing accounts, siblings of account holders, children of enlisted members, and then children of warrant officers.

The initial deposit amount is $6,000 per year, with annual adjustments based on the Chained Consumer Price Index.

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Additional Information

Education Savings Accounts for Military Families Act of 2021

Print number: HR 499

Sponsor: Rep. Banks, Jim [R-IN-3]

Process start date: 2021-01-28

System Note: Lustra is free, publicly auditable civic infrastructure, with full source code available on GitHub. You are reading sterilized legislative data, processed by our radical neutrality engine to strip political spin and retain factual mechanics. We process only official government data. Original documents remain the authoritative source, always verify them if you can.

Summarized by: gemini-3-pro-preview

Source data: api.congress.gov

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Education Savings Accounts for Military Families Act

Key Questions about Education Savings Accounts for Military Families Act