,,ii  #aacth ,,congress  #b;d ,session  
,s4 #befh  ,,in ,,the ,,senate ,,of     
,,the ,,united ,,states  ,july #h1 #bjad
 ,mrs4 ,fischer introduced the following
 bill2 which was read twice and referred
 to the ,committee on ,finance  ,a      
,,bill  ,to amend the ,internal ,revenue
 ,code of #aihf to increase the         
contribution limit for ,coverdell       
education savings accounts from #b1jjj  
to #e1jjj1 and for other purposes4  #a4 
,short title  ,this ,act may be cited as
 the ,allocating for ,children's        
,education ,act or the ,,ace ,act4  #b4 
,coverdell account contribution         
limitation increase  7a7  ,in general   
,clause 7iii7 of section                
#ecj7;b77#a77;,a7 of the ,internal      
,revenue ,code of #aihf is amended by   
striking #b1jjj and inserting #e1jjj4   
7b7  ,conforming amendment              
,subparagraph 7,a7 of section           
#digc7;e77#a7 of the ,internal ,revenue 
,code of #aihf is amended by striking   
#b1jjj and inserting #e1jjj4  7c7       

,effective date  ,the amendments made by
 this section shall apply to taxable    
years beginning after the date of the   
enactment of this ,act4  #c4 ,inclusion 
of athletic equipment in qualified      
elementary and secondary education      
expenses  7a7 ,in general ,clause 7i7 of
 section #ecj7;b77#c77;,a7 of the       
,internal ,revenue ,code of #aihf is    
amended by striking other equipment and 
inserting other equipment 7including    
athletic equipment74  7b7 ,effective    
date ,the amendment made by this section
 shall apply to taxable years beginning 
after the date of the enactment of this 
,act4