[Congressional Bills 108th Congress]
[From the U.S. Government Publishing Office]
[S. 2223 Introduced in Senate (IS)]
108th CONGRESS
2d Session
S. 2223
To expand the list of entities eligible to establish and maintain a
qualified tuition program under section 529 of the Internal Revenue
Code of 1986.
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IN THE SENATE OF THE UNITED STATES
March 23, 2004
Mr. Daschle introduced the following bill; which was read twice and
referred to the Committee on Finance
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A BILL
To expand the list of entities eligible to establish and maintain a
qualified tuition program under section 529 of the Internal Revenue
Code of 1986.
Be it enacted by the Senate and House of Representatives of the
United States of America in Congress assembled,
SECTION 1. ADDITIONAL ELIGIBLE ENTITIES FOR QUALIFIED TUITION PROGRAMS.
(a) In General.--For purposes of section 529 of the Internal
Revenue Code of 1986, an eligible educational institution shall be
deemed to include a corporation--
(1) which is a transferee corporation (within the meaning
of section 150(d)(3) of such Code) of a corporation described
in section 150(d) of such Code, and
(2) a majority of the outstanding stock of which is owned
by an employee stock ownership plan (as defined in section
4975(e)(7) of such Code).
(b) Effective Date.--Subsection (a) shall take effect with respect
to any qualified tuition program established after the date of the
enactment of this Act.
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