To make qualified tuition programs permanent and to amend the Internal Revenue Code of 1986 to allow a deduction for amounts contributed to qualified tuition programs.
Securing Affordable Vocational and Collegiate Education (SAVE) Act of 2005 - Makes permanent the qualified tuition programs enacted by the Economic Growth and Tax Relief Reconciliation Act of 2001.
Amends the Internal Revenue Code to allow a tax deduction from gross income for payments to a qualified tuition program. Limits the annual amount of such deduction to $5,000 ($10,000 on joint returns).
Introduced in House
Introduced in House
Referred to the House Committee on Ways and Means.
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