II
119th CONGRESS
1st Session
S. 2206
IN THE SENATE OF THE UNITED STATES
June 30, 2025
Mr. Schmitt introduced the following bill; which was read twice and referred to the Committee on Finance
A BILL
To amend the Internal Revenue Code of 1986 to increase the limitation on distributions from 529 accounts for qualified higher education expenses.
Section 1. Increase in limitation for qualified higher education expenses from 529 accounts
(a) In general
The last sentence of section 529(e)(3) of the Internal Revenue Code of 1986 is amended by striking $10,000
and inserting $20,000
.
(b) Effective date
The amendment made by this section shall apply to taxable years beginning after December 31, 2025.