College Savings Act of 2005

Fact Sheet API

Bill Number

S 76

Introduced

Jan 24, 2005

Latest Action

Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S251-253)

Sponsor

Cosponsors

Topics

College costs Education Education savings accounts Higher education Income tax Tax deductions Tax exemption Tax penalties Tax returns Taxation

Full Text

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Votes

Summary

College Savings Act of 2005 - Amends the Internal Revenue Code to: (1) increase the maximum annual contribution limit for Coverdell education savings accounts from $2,000 to $5,000; and (2) allow a tax deduction up to $5,000 for contributions to an education savings account.

Actions

Jan 24, 2005

Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S251-253)
Jan 24, 2005

Sponsor introductory remarks on measure. (CR S250-251)
Jan 24, 2005

Introduced in Senate

Amendments

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