Inflation-Adjusted Education Investment Act
This bill amends the Internal Revenue Code to increase the limitation on distributions from qualified tuition programs (Section 529) used for elementary and secondary tuition from $10,000 to $12,000. It also establishes an annual inflation adjustment for this amount for taxable years beginning after 2022. The amendments apply to taxable years beginning after December 31, 2021.
Key points
The limitation on distributions for elementary and secondary tuition increases from $10,000 to $12,000.
An inflation adjustment is added for taxable years beginning after 2022.
The changes apply to taxable years beginning after December 31, 2021.
Status:
Expired
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