Setting Aside for a Valuable Education (SAVE) Act - Amends the Internal Revenue Code to: (1) permit private higher educational institutions, in addition to currently permitted State institutions, to establish qualified tuition programs; (2) exclude from gross income program distributions used for qualified higher education expenses; (3) permit an annual rollover to a different tuition program on behalf of the same beneficiary; (4) include first cousins as a qualifying family member; and (5) revise the room and board limitation.
Actions
Feb 14, 2001
Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S1418-1419)
Feb 14, 2001
Sponsor introductory remarks on measure. (CR S1417-1418)