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Lee, Mike [R-UT]","UT","R","L000577","2025-12-05T21:32:58Z",[],"Senate",119,false,"ACE Act","2026-05-10T17:54:23.111Z",[],2,0,"s",[],[],"https:\u002F\u002Fwww.congress.gov\u002Fbill\u002F119th-congress\u002Fsenate-bill\u002F311","Taxation",{"date":6,"text":30},"Read twice and referred to the Committee on Finance.",311,"in_committee",1,"A bill to amend the Internal Revenue Code of 1986 to provide incentives for education.","2026-05-22T14:46:09.940Z","taxation",[38,39,40,41,42,43,44,45,46,47,48,49,50,51,52,53,54,55,56,57,58,59,60,61,62,63,64,65,66,67,68,69,70,71,72,73,74,75,76,77,78,79,80,81,82,83,84,85,86,87,88,89,90,91,92,93,94,95,96,97],"ace","act","bill","bi","bil","to","amend","am","ame","amen","the","internal","in","int","inte","inter","intern","interna","revenue","re","rev","reve","reven","revenu","code","co","cod","of","1986","19","198","provide","pr","pro","prov","provi","provid","incentives","inc","ince","incen","incent","incenti","incentiv","incentive","for","education","ed","edu","educ","educa","educat","educati","educatio","sen","lee","mike","mi","mik","ut",[],true,[101],{"versionCode":102,"actionDate":6,"actionDesc":103,"text":104,"updateDate":105},"00","Introduced in Senate","\u003Cp>\u003Cstrong>Achieving Choice in Education Act or the ACE Act\u003C\u002Fstrong>\u003C\u002Fp>\u003Cp>This bill expands the expenses that may be paid for with tax-free distributions from a qualified tuition program (known as a 529 plan) to include certain elementary, secondary, and homeschool education&nbsp;expenses and makes other changes related to 529 plans. The bill also limits the tax exclusion&nbsp;for interest on state or local bonds.\u003C\u002Fp>\u003Cp>Under current law, 529 plan distributions are excluded from gross income if they are used to pay for qualified higher education expenses, which includes up to $10,000 (per year and per beneficiary) for tuition at an elementary or secondary public, private, or religious school.\u003C\u002Fp>\u003Cp>The bill expands the expenses that may be paid for with tax-free 529 plan distributions to include homeschooling tuition and the following expenses related to elementary, secondary, and homeschool education:\u003C\u002Fp>\u003Cul>\u003Cli>curriculum,\u003C\u002Fli>\u003Cli>books,\u003C\u002Fli>\u003Cli>instructional and online educational materials,\u003C\u002Fli>\u003Cli>tutoring or educational classes outside the home,\u003C\u002Fli>\u003Cli>testing fees,\u003C\u002Fli>\u003Cli>fees for dual enrollment in a&nbsp;higher education institution, and\u003C\u002Fli>\u003Cli>educational therapies for disabled&nbsp;students.\u003C\u002Fli>\u003C\u002Ful>\u003Cp>The bill also increases the amount of tax-free 529 plan distributions that may be used to pay for elementary, secondary, and homeschool education expenses to $20,000.\u003C\u002Fp>\u003Cp>The bill increases the annual gift tax exclusion by $20,000 for contributions made to a 529 plan. (Under current law, up to $19,000 may be excluded from taxable gifts in 2025.)\u003C\u002Fp>\u003Cp>Finally, the bill limits the tax exclusion for interest on state or local bonds to bonds issued by&nbsp;states that meet minimum school choice requirements or political subdivisions of such states.\u003C\u002Fp>","2025-05-02T18:50:50Z",[107,112],{"bioguideId":108,"fullName":109,"party":12,"state":110,"sponsorshipDate":111,"isOriginalCosponsor":18,"withdrawn":18,"sponsorshipWithdrawnDate":3},"S001227","Sen. Schmitt, Eric [R-MO]","MO","2025-02-12",{"bioguideId":113,"fullName":114,"party":12,"state":115,"sponsorshipDate":6,"isOriginalCosponsor":99,"withdrawn":18,"sponsorshipWithdrawnDate":3},"B001305","Sen. Budd, Ted [R-NC]","NC",{"S001227":117,"B001305":118},"eric-schmitt","ted-budd",[120,127],{"actionDate":6,"actionDateTime":3,"text":30,"type":121,"actionCode":3,"sourceSystem":122,"committees":123,"recordedVotes":3,"calendarNumber":3,"sequenceIndex":23,"isKeyMilestone":18},"IntroReferral",{"name":16},[124],{"name":125,"systemCode":126},"Finance Committee","ssfi00",{"actionDate":6,"actionDateTime":3,"text":103,"type":121,"actionCode":128,"sourceSystem":129,"committees":3,"recordedVotes":3,"calendarNumber":3,"sequenceIndex":33,"isKeyMilestone":99},"10000",{"code":130,"name":131},9,"Library of Congress",[],{},[],"mike-lee"]