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![handle is hein.usccsset/usconset50197 and id is 1 raw text is:
106TH CONGRESS
1st Session
SENATE
Calendar No. 124
REPORT
106-54
AFFORDABLE EDUCATION ACT OF 1999
MAY 26, 1999.-Ordered to be printed
Mr. ROTH, from the Committee on Finance,
submitted the following
REPORT
together with
MINORITY VIEWS
[To accompany S. 1134]
[Including cost estimate of the Congressional Budget Office]
The Committee on Finance reported an original bill (S. 1134) to
amend the Internal Revenue Code of 1986 to allow tax-free expend-
itures from education individual retirement accounts for elemen-
tary and secondary school expenses, to increase the maximum an-
nual amount of contributions to such accounts, and for other pur-
poses, having considered the same, reports favorably thereon and
recommends that the bill do pass.
CONTENTS
Page
I. Legislative Background and Summary ....................................................... 2
A . Legislative Background ..................................................................... 2
B . Sum m ary .............................................................................................. 2
II. E xplanation of th e B ill ................................................................................. 4
Title I-Education Savings Incentives (secs. 101-102) .......................... 4
1. Modifications to education individual retirement accounts
(IR A s) (sec. 10 1) ........................................................................ . 4
2. Private pre-paid tuition programs; exclusion from gross in-
come of education distributions from qualified tuition pro-
gram s (sec. 102) ........................................................................... 10
Title II-Educational Assistance (secs. 201-203) ................................... 13
1. Exclusion for employer-provided educational assistance (sec.
2 0 1 ) ............................................................................................... 1 3
69-010
AUTHENTICATEO
U.S. GOVERNMENT
INFORMATION
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