S.Amdt. 1821

SA 1821. Mr. GARDNER submitted an amendment intended to be proposed
to amendment SA 1618 proposed by Mr. McConnell (for Mr. Hatch (for
himself and Ms. Murkowski)) to the bill H.R. 1, to provide for
reconciliation pursuant to titles II and V of the concurrent resolution
on the budget for fiscal year 2018; which was ordered to lie on the
table; as follows:

At the appropriate place, insert the following:

SEC. __. CONSOLIDATION OF EDUCATION SAVINGS RULES.

(a) No New Contributions to Coverdell Education Savings
Account.--Section 530(b)(1)(A) is amended to read as follows:
``(A) Except in the case of rollover contributions, no
contribution will be accepted after December 31, 2017.''.
(b) Limited Distribution Allowed for Elementary and
Secondary Tuition and Qualified Early Education Expenses.--
(1) In general.--Section 529(c) is amended by adding at the
end the following new paragraph:
``(7) Treatment of elementary and secondary tuition and
qualified early education expenses.--Each reference in this
section to the term `qualified higher education expense' is
deemed to include--
``(A) a reference to expenses for tuition in connection
with enrollment at an elementary or secondary school; and
``(B) a reference to expenses for providing educational and
other care to a child under age 5, as determined under the
law of the State involved, provided pursuant to attendance at
a school or facility licensed in the State for such purpose
(referred to in this section as `qualified early education
expenses').''.
(2) Limitation.--Section 529(e)(3)(A) is amended by adding
at the end the following: ``The amount of cash distributions
from all qualified tuition pro grams described in subsection
(b)(1)(A)(ii) with respect to a beneficiary during any
taxable year, shall, in the aggregate, include (as the case
may be) not more than $10,000 in expenses for tuition
incurred during the taxable year in connection with the
enrollment or attendance of the beneficiary as an elementary
or secondary school student at a public, private, or
religious school; or not more than $10,000 in qualified early
education expenses incurred during the taxable year.''.
(c) Rollovers From Coverdell Education Savings Accounts to
Qualified Tuition Programs.--Section 530(d)(5) is amended by
inserting ``, or into (by purchase or contribution) a
qualified tuition program (as defined in section 529),''
after ``into another Coverdell education savings account''.
(d) Effective Dates.--
(1) In general.--Except as provided in paragraph (2), the
amendments made by this section shall apply to contributions
made after December 31, 2017.
(2) Rollovers to qualified tuition programs.--The
amendments made by subsection (b) shall apply to
distributions after December 31, 2017.
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