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US SB2206

Bill

Official Source

Status

Introduced

6/30/2025

Primary Sponsor

Eric Schmitt

Click for details

Origin

Senate

119th Congress

AI Summary

  • Increases the annual limit on tax-free distributions from 529 education savings accounts for qualified higher education expenses from $10,000 to $20,000
  • Amends Section 529(e)(3) of the Internal Revenue Code of 1986
  • Applies to taxable years beginning after December 31, 2025
  • Introduced by Senator Schmitt on June 30, 2025, and referred to the Committee on Finance

Legislative Description

A bill to amend the Internal Revenue Code of 1986 to increase the limitation on distributions from 529 accounts for qualified higher education expenses.

Taxation

Last Action

Read twice and referred to the Committee on Finance.

6/30/2025

Committee Referrals

Finance6/30/2025

Full Bill Text

No bill text available