S. 311In Committee
ACE Act
Expands tax-free 529 plan use for elementary secondary and homeschool education expenses, raises related contribution limits, and restricts municipal bond tax benefits based on school choice requirements
Plain-English overview
What this bill does
Expands tax-free 529 plan use for elementary secondary and homeschool education expenses, raises related contribution limits, and restricts municipal bond tax benefits based on school choice requirements
Key points
- Limit bond interest tax exclusion
- Expand 529 eligible education expenses
- Increase tax free K12 withdrawal limit
- Increase gift tax exclusion for 529 contributions
Current status
Where it stands
Status
In Committee
Latest action
2025-01-29 — Read twice and referred to the Committee on Finance.
Related context
Topics and policy areas
undefinedTaxation