Search Results: keywords:"529 education savings accounts"

  • S. 3520 — To amend the Internal Revenue Code of 1986 to provide incentives for education.
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    Status:Introduced in Senate
    Words:1,325

    S. 3520, also known as the "Achieving Choice in Education Act" or "ACE Act," aims to amend the Internal Revenue Code to support educational opportunities. The bill proposes changes that would allow for 529 education savings accounts to cover more homeschooling and secondary...

    Simple Explanation

    The Achieving Choice in Education Act wants to let people use more special savings money for things like homeschooling and tutoring, make bigger gifts with tax benefits, and help some states that give kids more school choices.

  • H. R. 750 — To amend the Internal Revenue Code of 1986 to provide incentives for education.
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    Status:Introduced in House
    Words:1,337

    The Achieving Choice in Education Act aims to amend the Internal Revenue Code to provide educational incentives. It expands the use of 529 education savings accounts to cover costs associated with homeschooling and other K-12 expenses, increases the limit on 529 plan...

    Simple Explanation

    The Achieving Choice in Education Act wants to make it easier for families to pay for school by letting them use special savings accounts, called 529 plans, for homeschool costs and to save even more money. It also tries to encourage states to pass school choice laws by giving them extra financial benefits, but some people think it might not be fair for everyone.