H.R. 3585House109th Congress (2005-2007)In Committee

Education Savings Act of 2005

Introduced July 28, 2005

Legislative Activity

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HouseIntro Referral Latest Action

Referred to the House Committee on Ways and Means.

July 28, 2005

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HouseIntro Referral

Introduced in House

July 28, 2005

HouseIntro Referral

Referred to the House Committee on Ways and Means.

July 28, 2005

Floor Debate

24 members

What members said about H.R. 3585 on the floor

11 Republicans13 Democrats
Kent Conrad
Sen. Kent ConradD-ND · Nov 14, 2006

Mr. President, I ask unanimous consent that the order for the quorum call be rescinded. Mr. President, let me thank Senators Hutchison and Feinstein, the managers of this bill, for the opportunity to…

Byron L. Dorgan
Sen. Byron L. DorganD-ND · Nov 14, 2006

Mr. President, I thank my colleague Senator Conrad for his leadership, my colleague Senator Johnson, and so many others, Republicans and Democrats, who have worked together to try to construct a…

Tim Johnson
Sen. Tim JohnsonD-SD · Nov 14, 2006

Mr. President, I rise today in support of Senator Conrad's agriculture disaster assistance amendment and am pleased to be a cosponsor of this important legislative package. The package would provide…

Judd Gregg
Sen. Judd GreggR-NH · Nov 14, 2006

Reserving the right to object, I also wish to speak to the amendment that is about to be called up by the Senator from North Dakota. In order to maintain continuity, I would hope that I could speak…

John McCain
Sen. John McCainR-AZ · Nov 14, 2006

Mr. President, I rise today to address the Senate concerning the legislation before us, the Military Construction and Veterans Affairs appropriations bill for fiscal year 2007. This bill is…

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Kay Bailey Hutchison
Sen. Kay Bailey HutchisonR-TX · Nov 14, 2006

Reserving the right to object, I had told the Senator from North Dakota that he could offer the amendment, and then I asked that he set it aside so that Senator Collins could offer her amendment,…

John F. Kerry
Sen. John F. KerryD-MA · Nov 14, 2006

Mr. President, I ask unanimous consent that the order for the quorum call be rescinded Mr. President, I ask unanimous consent that amendment No. 5142 to the Military Construction-Veteran Affairs bill…

Susan M. Collins
Sen. Susan M. CollinsR-ME · Nov 14, 2006

Mr. President, I ask unanimous consent that the pending amendment be set aside so that I may call up amendment No. 5123. Mr. President, that is certainly fine with me. I was trying to follow the…

Norm Coleman
Sen. Norm ColemanR-MN · Nov 14, 2006

Mr. President, I join in thanking my colleague from North Dakota for giving me the opportunity to speak about the trials of Minnesota farmers. I join in this bipartisan plea to deal with an issue…

Dianne Feinstein
Sen. Dianne FeinsteinD-CA · Nov 14, 2006

Mr. President, I am looking for the chairman on this bill. I know she has no objections. I request a voice vote on the amendment. Mr. President, I have no objection to amendment No. 5131, as…

Russell D. Feingold
Sen. Russell D. FeingoldD-WI · Nov 14, 2006

Mr. President, the Senator from Maine has been a wonderful leader on this issue. It is always a pleasure to work with her. I am also pleased to be working with Senator Lieberman and a number of other…

Edward M. Kennedy
Sen. Edward M. KennedyD-MA · Nov 14, 2006

Mr. President, last Saturday, all across the country, we honored our Nation's veterans, and we renewed our commitment to care for them, in the way Abraham Lincoln advised us in his Second Inaugural…

Wayne Allard
Sen. Wayne AllardR-CO · Nov 14, 2006

Mr. President, I rise today in support of the Military Construction and Veterans Affairs appropriations bill because of its commitment to VA health care as well as its support of vital and necessary…

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Larry E. Craig
Sen. Larry E. CraigR-ID · Nov 14, 2006

Mr. President, I support the Smith and Burns amendments and take just a few minutes to address both issues which are truly an emergency. First, Mr. Smith has filed an amendment to extend the Secure…

Ken Salazar
Sen. Ken SalazarD-CO · Nov 14, 2006

Mr. President, as we consider legislation to fund the Department of Veterans Affairs for fiscal year 2007, I want to briefly discuss the importance of providing adequate funding for blinded veterans'…

Daniel K. Akaka
Sen. Daniel K. AkakaD-HI · Nov 14, 2006

Mr. President, I thank my colleague very much for the opportunity to speak at this time. I rise today in support of Senator Kent Conrad's amendment. I thank Senator Conrad for his leadership and…

Patrick J. Leahy
Sen. Patrick J. LeahyD-VT · Nov 14, 2006

Mr. President, I am pleased to be a cosponsor of amendment 5123 offered by Senators Collins and Feingold. This bipartisan amendment would extend the life of the Office of the Special Inspector…

Rick Santorum
Sen. Rick SantorumR-PA · Nov 14, 2006

Mr. President, what is the pending business? My understanding is that this amendment, as the Senator from North Dakota just talked about, is an amendment dealing with agriculture. This is a military…

Mary L. Landrieu
Sen. Mary L. LandrieuD-LA · Nov 14, 2006

Mr. President, I ask unanimous consent that the order for the quorum call be rescinded. Mr. President, I understand the chairman and ranking member are trying to work out the final amendments on this…

William H. Frist
Sen. William H. FristR-TN · Nov 14, 2006

Mr. President, I move to instruct the Sergeant at Arms to request the presence of absent Senators, and I ask for the yeas and nays. Mr. President, I move to reconsider the vote. Mr. President, I…

Pete V. Domenici
Sen. Pete V. DomeniciR-NM · Nov 14, 2006

Mr. President, while the Senator who was talking is still on the floor, let me say if a unanimous consent request is propounded that is consistent with what he has said, I would have to object. I…

Max Baucus
Sen. Max BaucusD-MT · Nov 14, 2006

Is the distinguished Senator from California aware of the need for a new veterans cemetery in Yellowstone County in Montana? In Montana, we have the highest percentage of veterans per capita of any…

Barbara Boxer
Sen. Barbara BoxerD-CA · Nov 14, 2006

Mr. President, I would like to take a few moments to discuss an issue of critical importance to the military families at Beale Air Force Base in Yuba City, CA. The Child Development Center, CDC, at…

Arlen Specter
Sen. Arlen SpecterR-PA · Nov 14, 2006

Mr. President, I ask unanimous consent that the order for the quorum call be rescinded. Mr. President, I note that the majority leader is on the Senate floor. I am prepared to speak for just about 5…

Bill Text

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Introduced in HouseIssued July 28, 2005

I

109th CONGRESS

1st Session

H. R. 3585

IN THE HOUSE OF REPRESENTATIVES

July 28, 2005

Mr. Porter (for himself, Mr. McKeon, Mr. Garrett of New Jersey, Ms. Ginny Brown-Waite of Florida, Mr. Ruppersberger, Mr. Hostettler, Mr. Kline, Mr. Paul, Mr. Souder, Mr. Neugebauer, Mr. Platts, Ms. Ros-Lehtinen, and Mr. Rehberg) introduced the following bill; which was referred to the Committee on Ways and Means

A BILL

To amend the Internal Revenue Code of 1986 to exclude from gross income employer contributions to college tuition plans and education savings accounts.

1.

Short title

This Act may be cited as the Education Savings Act of 2005.

2.

Exclusion from gross income for contributions to education savings entities

(a)

In general

Part III of subchapter B of chapter 1 of the Internal Revenue Code of 1986 (relating to items specifically excluded from gross income) is amended by inserting after section 127 the following new section:

127A.

Contributions to education savings entities

(a)

In general

Gross income of an employee does not include amounts paid by the employer as contributions to an education savings entity held by the employee or spouse of the employee if the contributions are made pursuant to a program which is described in subsection (b).

(b)

Educational assistance program

For purposes of this section, an educational assistance program is a separate written plan of an employer for the benefit of such employer’s employees—

(1)

under which the employer makes contributions to education savings entities of such employees or spouses of employees, and

(2)

which meets requirements similar to the requirements of paragraphs (2), (3), (4), (5), and (6) of section 127(b).

(c)

Definitions and special rules

For purposes of this section—

(1)

Education savings entity

The term education savings entity means—

(A)

a qualified tuition program (as defined in section 529(b)), and

(B)

a Coverdell education savings account (as defined in section 530(b)).

(2)

Employee and employer

The terms employee and employer shall have the meaning given such terms by paragraphs (2) and (3), respectively, of section 127(c).

(3)

Applicable rules

Rules similar to the rules of paragraphs (4), (5), (6), and (7) of section 127(c) shall apply.

(d)

Cross reference

For reporting and recordkeeping requirements, see section 6039D.

.

(b)

Exclusion from employment taxes

(1)

Sections 3121(a)(18), 3306(b)(13), and 3401(a)(18) of such Code are each amended by inserting 127A, after 127, each place it appears.

(2)

Section 3231(e)(6) of such Code is amended by striking section 127 and inserting section 127 or 127A.

(c)

Reporting and recordkeeping requirements

Section 6039D(d)(1) of such Code is amended by inserting 127A, after 127,.

(d)

Other conforming amendments

(1)

Section 51A(b)(5)(B) of such Code is amended by striking or at the end of clause (iii), by redesignating clause (iv) as clause (v), and by inserting after clause (iii) the following new clause:

(iv)

section 127A (relating to contributions to education savings entities), but only to the extent paid or incurred to a person not related to the employer, or

.

(2)

Sections 125(f), 414(n)(3)(C), and 414(t)(2) of such Code are each amended by inserting 127A, after 127, each place it appears.

(3)

Section 132(j)(8) of such Code is amended by striking section 127 and inserting section 127 or 127A.

(4)

Section 1397(a)(2)(A) of such Code is amended by inserting at the end the following new clause:

(iii)

Any amount paid or incurred by an employer which is excludable from the gross income of an employee under section 127A, but only to the extent paid or incurred to a person not related to the employer.

.

(5)

Section 209(15) of the Social Security Act (42 U.S.C. 409(15)) is amended by striking or 129 and inserting , 127A, or 129.

(e)

Clerical amendment

The table of sections for part III of subchapter B of chapter 1 of such Code is amended by inserting after the item relating to section 127 the following new item:

Sec. 127A. Contributions to education savings entities

.

(f)

Effective date

The amendments made by this section shall apply to remuneration paid after December 31, 2005.