118th Congress · HOUSE BILLBILL

H.R. 8710 — To amend the Internal Revenue Code of 1986 to allow a deduction for amounts contributed to a 529 plan.

“To amend the Internal Revenue Code of 1986 to allow a deduction for amounts contributed to a 529 plan.”

Taxation

Introduced Jun 12, 2024

Last action Jun 12, 2024

Pipeline · Bill → Law

Step 1

Introduced

Jun 12, 2024

Step 2

Referred

Jun 12, 2024

Ways & Means

Step 3

Committee

Step 4

House floor

Step 5

Senate

Step 6

Resolve Changes

Step 7

Signed

SummaryCRS Summary

This bill allows a tax deduction for contributions to a qualified tuition program (known as 529 plans) up to $10,000 in a taxable year. Taxpayers whose adjusted gross income exceeds $200,000 in a taxable year are not eligible for the deduction.

Provisions · 1 sectionsIntroduced in House

Timeline · 2 actions

Jun 12, 2024

Introduced in House

Jun 12, 2024

Referred to the House Committee on Ways and Means.