[Congressional Bills 107th Congress]
[From the U.S. Government Publishing Office]
[S. 1662 Introduced in Senate (IS)]
107th CONGRESS
1st Session
S. 1662
To amend the Internal Revenue Code of 1986 to allow Coverdell education
savings accounts to be used for homeschooling expenses.
_______________________________________________________________________
IN THE SENATE OF THE UNITED STATES
November 8, 2001
Mr. Hutchinson 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 allow Coverdell education
savings accounts to be used for homeschooling expenses.
Be it enacted by the Senate and House of Representatives of the
United States of America in Congress assembled,
SECTION 1. ALLOWANCE OF COVERDELL EDUCATION SAVINGS ACCOUNTS FOR
HOMESCHOOLING EXPENSES.
(a) In General.--Section 530(b)(4) of the Internal Revenue Code of
1986 (defining qualified elementary and secondary education expenses)
is amended by adding at the end the following new subparagraph:
``(C) Special rule for homeschooling.--Such term
shall include expenses described in clause (i) or (iii)
of subparagraph (A) in connection with education
provided by homeschooling if the requirements of any
applicable State or local law are met with respect to
such education.''.
(b) Effective Date.--The amendment made by this section shall apply
to taxable years beginning after December 31, 2001.
<all>
Introduced in Senate
Read twice and referred to the Committee on Finance.
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