A bill to amend the Internal Revenue Code of 1986 to promote savings for qualified higher education expenses.
Higher Education Savings Plan Act of 1990 - Amends the Internal Revenue Code to exempt distributions from a higher education expenses annuity contract from the ten-percent penalty on premature distributions from annuity contracts.
Excludes the premium to purchase such a contract from gift tax liability.
Introduced in Senate
Read twice and referred to the Committee on Finance.
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