HR. 750In Committee
ACE Act
Expand tax-free 529 plan uses for elementary secondary and homeschool education expenses, increase related contribution and distribution limits, and restrict certain state and local bond tax benefits based on school choice requirements
Plain-English overview
What this bill does
Expand tax-free 529 plan uses for elementary secondary and homeschool education expenses, increase related contribution and distribution limits, and restrict certain state and local bond tax benefits based on school choice requirements
Key points
- Limit bond interest exclusion
- Expand 529 eligible expenses
- Increase 529 distribution limit
- Increase gift tax exclusion
Current status
Where it stands
Status
In Committee
Latest action
2025-01-28 — Referred to the House Committee on Ways and Means.
Related context
Topics and policy areas
undefinedTaxation