Markup of Bills to Expand 529 College Savings Plans, Make Select Tax Provisions Permanent

The Ways and Means Committee will mark up a series of bills to strengthen 529 college savings plans and make permanent select tax provisions. The meeting will be held on Thursday, February 12, 2015, at 9:30 AM in Room 1324 of the Longworth House Office Building.

The markup includes:

• H.R. 529, a bill to amend the Internal Revenue Code of 1986 to improve 529 plans;
• H.R. 622, a bill to amend the Internal Revenue Code of 1986 to make permanent the deduction of State and local general sales taxes; and
• A bill to amend the Internal Revenue Code of 1986 to simplify and make permanent the research credit.

Amendments introduced:

• Amendment offered by Rep. Danny Davis to pay for 529 expansion by limiting 529 plans to taxpayers with incomes below $3 million
• Amendment offered by Rep. Danny Davis to make public reports on 529 contributions and distributions 
• Amendment offered by Rep. Joseph Crowley