Affordable Education Act of 2001
Latest action · Apr 24, 2001 Placed on Senate Legislative Calendar under General Orders. Calendar No. 34.
Progress
Where this bill reached, and when. A stage with no date was not reached; one that failed a vote and later carried shows the date it carried.
- IntroducedApr 24, 2001
- Passed SenateNot reached
- Passed HouseNot reached
- To the PresidentNot reached
- Became lawNot reached
Summary
(Sec. 102) Permits an eligible educational institution (currently, limited to a State or agency or instrumentality thereof) to maintain a qualified tuition program, provided such program has received a ruling that such program meets the applicable requirements for a qualified tuition program.
Title II: Educational Assistance - Permanently extends the exclusion from gross income of employer provided educational assistance.
(Sec. 202) Eliminates the 60 month limit on the student loan interest deduction. Increases the income limitation on the student loan interest deduction.
(Sec. 203) Excludes from gross income certain amounts received under the National Public Health Service Corps Scholarship Program and the F. Edward Hebert Armed Forces Health Professions Scholarship and Financial Assistance Program.
(Sec. 204) Excludes from employee gross income employer contributions to Coverdell Education Savings Accounts on behalf of an employee.
Title III: Liberalization of Tax-Exempt Financing Rules for Public School Construction - Increases the amount by which certain governmental bonds used to finance public school capital expenditures may be exempted from specified arbitrage bond provisions.
(Sec. 302) Provides for the treatment of qualified public educational facility bonds as exempt facility bonds.
Cosponsors
Members who signed on, in the order they did.
Committees 1
Where it was sent and what each committee and subcommittee did with it, in order.
| Chamber | Committee | What it did |
|---|---|---|
| Senate | Finance Committee | Markup Mar 13, 2001Reported as an original measure Apr 24, 2001 |
Actions 4
Everything that happened, newest first.
- Apr 24, 2001Introduced in Senate
- Apr 24, 2001Committee on Finance. Original measure reported to Senate by Senator Grassley. With written report No. 107-12.
- Apr 24, 2001Placed on Senate Legislative Calendar under General Orders. Calendar No. 34.
- Mar 13, 2001Committee on Finance ordered to be reported an original measure.
Research
What has been written about this bill: committee reports, cost estimates, the sponsor’s authority statement, printed hearings and the Congressional Research Service’s work.
Committee report
Congressional Budget Office cost estimates 2
- Apr 23, 2001S. 763, Affordable Education Act of 2001<p>Cost estimate for the bill as ordered reported by the Senate Committee on Finance on March 13, 2001</p>
- Apr 23, 2001S. 763, Affordable Education Act of 2001Cost estimate for the bill as ordered reported by the Senate Committee on Finance on March 13, 2001
Titles 3
Every title it has carried, official and short, at each stage.
- Official Title as Introduced
- An original bill to amend the Internal Revenue Code of 1986 to allow tax-free expenditures from education individual retirement accounts for elementary and secondary school expenses, to increase the maximum annual amount of contributions to such accounts, and for other purposes.
- Short Titles as Introduced
- Affordable Education Act of 2001
- Short Titles as Reported to Senate
- Affordable Education Act of 2001
Subjects
Assigned by the Library of Congress. Policy area: Taxation.
- Armed Forces and National Security
- Building construction
- Business education
- College costs
- Commemorations
- Commerce
- Computer-assisted instruction
- Computers in education
- Congress
- Congressional tributes
- Construction costs
- Disabled
- Economics and Public Finance
- Education
- Education of disabled students
- Education savings accounts
- Educational facilities
- Elementary and secondary education
- Elementary education
- Elementary schools
- Employee benefit plans
- Ex-Members of Congress
- Families
- Federal aid to medical education
- Finance and Financial Sector
- Fringe benefits
- Georgia
- Government Operations and Politics
- Government paperwork
- Graduate education
- Health
- High schools
- Higher education
- Housing and Community Development
- Income tax
- Infrastructure
- Interest
- Labor and Employment
- Land transfers
- Law
- Legal education
- Married people
- Medical education
- Members of Congress (Senate)
- Military medicine
- Names
- Personal income tax
- Private schools
- Privatization
- Professional education
- Public health personnel
- Public Lands and Natural Resources
- Public-private partnerships
- Scholarships
- School buildings
- Science, Technology, Communications
- Secondary education
- Special education
- Sports and Recreation
- Stadiums
- Student aid
- Student housing
- Student loan funds
- Tax deductions
- Tax exclusion
- Tax returns
- Tax-exempt securities
- Taxation
- Textbooks
- Tuition tax credits
Text 1
Each version as it was printed, newest first.
- Apr 24, 2001Placed on Calendar Senate
Everything here is as published by Congress: the summary is the Congressional Research Service's, the action wording is the clerks', and the subjects are the Library of Congress's. How far it got is read from the actions themselves, taking the most recent one of each kind, so a bill that failed a vote and later passed is shown as having passed. Records come from this bill on Congress.gov and govinfo.gov; cost estimates are the Congressional Budget Office's, and the hearings are the printed hearings GovInfo publishes, which can appear months after the hearing.
