,,ii  #aad? ,,congress  #a/ ,session    
,h4 ,r4 #ebi  ,,9 ,,! ,,s5ate ,,( ,,!   
,,unit$ ,,/ates  ,febru>y #bf1          
#bjae,receiv$  ,,an ,,act  ,to am5d !   
,int]nal ,rev5ue ,code ( #aihf to       
improve #ebi plans4  #a4 ,f9d+s &       
purpose  7a7 ,f9d+s ,congress f9ds !    
foll[+3 7#a7 ,:5 ! ,economic ,gr[? &    
,tax ,relief ,reconciliation ,act (     
#bjja became law1 ! tax treatm5t (      
section #ebi college sav+s plans 0 *ang$
 s t qualifi$ di/ributions 7 no long]   
tax$ z income4 ,! favorable tax treatm5t
 ( college sav+s plans 0 made p]man5t ) 
! passage ( ! ,p5sion ,protection ,act (
 #bjjf4  7#b7 ,section #ebi college     
sav+s plans emp[] middle-class families 
to accumulate sav+s to (fset ! ris+ co/s
 ( att5d+ college4  7#c7 ,! late/ data f
 ! ,college ,sav+s ,plan ,network %[s t 
!re are #aa4hc million #ebi acc\nts op5 
?r\gh\t all #ej /ates1 :i* repres5t     
#bdd4e billion 9 total assets4 ,! av]age
 #ebi acc\nt size is #bj1fga4  7#d7     
,/ates t sponsor #ebi college sav+s     

plans h tak5 /eps to ensure ^! plans are
 a tool t all families c use to save =  
college1 includ+ sett+ m9imum           
contributions z l[ z #be p] mon? to     
enc\rage p>ticipation by families ( all 
income levels4  7#e7 ,! ,presid5t's     
fiscal ye> #bjaf ,budget proposes rais+ 
taxes by tax+ c]ta9 future di/ributions 
made f #ebi college sav+s plans4  7#f7  
,! tax propos$ by ! ,presid5t w\ld      
disc\rage ! use ( #ebi college sav+s    
plans1 requir+ families & /ud5ts to take
 on m debt4  7#g7 ,pur*ase ( a comput]  
repres5ts a significant high] education 
exp5se & !re=e %\ld be eligible =       
qualifi$ di/ributions "u #ebi college   
sav+s plans4  7b7 ,purpose ,x is !      
purpose ( ?is ,act to-- 7#a7 enact      
policies t /r5g!n #ebi college sav+s    
plans2 &  7#b7 make #ebi plans m mod]n1 
consum]-fri5dly1 & responsive to !      
realities fac$ by /ud5ts today4  #b4    
,comput] te*nology & equipm5t p]man5tly 
all[$ z a qualifi$ high] education      
exp5se = section #ebi acc\nts  7a7 ,9   

g5]al ,section #ebi7;e77#c77;,a77iii7 ( 
! ,int]nal ,rev5ue ,code ( #aihf is     
am5d$ to read z foll[s3  7iii7 exp5ses =
 ! pur*ase ( comput] or p]iph]al        
equipm5t 7z def9$ 9 section             
#afh7;i77#b77;,b771 comput] s(tw>e 7z   
def9$ 9 section #aig7;e77#c77;,b771 or  
,int]net access & relat$ s]vices1 if su*
 equipm5t1 s(tw>e1 or s]vices are to be 
us$ prim>ily by ! b5efici>y dur+ any ( !
 ye>s ! b5efici>y is enroll$ at an      
eligible educational in/itution4  4  7b7
 ,effective date ,! am5dm5t made by ?is 
section %all apply to taxable ye>s      
beg9n+ aft] ,decemb] #ca1 #bjad4  #c4   
,elim9ation ( di/ribution aggregation   
requirem5ts  7a7 ,9 g5]al ,section      
#ebi7;c77#c7 ( ! ,int]nal ,rev5ue ,code 
( #aihf is am5d$ by /rik+ subp>agraph   
7,d74  7b7 ,effective date ,! am5dm5t   
made by ?is section %all apply to       
di/ributions aft] ,decemb] #ca1 #bjad4  
#d4 ,recontribution ( refund$ am\nts    
7a7 ,9 g5]al ,section #ebi7;c77#c7 ( !  
,int]nal ,rev5ue ,code ( #aihf1 z am5d$ 

by section #c1 is am5d$ by add+ at ! end
 ! foll[+ new subp>agraph3  7,d7        
,special rule = contributions ( refund$ 
am\nts ,9 ! case ( a b5efici>y :o       
receives a refund ( any qualifi$ high]  
education exp5ses f an eligible         
educational in/itution1 subp>agraph 7,a7
 %all n apply to t portion ( any        
di/ribution = ! taxable ye> :i* is      
recontribut$ to a qualifi$ tuition      
program ( :i* su* individual is a       
b5efici>y1 b only to ! ext5t su*        
recontribution is made n lat] ?an #fj   
days aft] ! date ( su* refund & does n  
exce$ ! refund$ am\nt4  4  7b7          
,effective date  7#a7 ,9 g5]al ,!       
am5dm5t made by ?is section %all apply )
 respect to refunds ( qualifi$ high]    
education exp5ses aft] ,decemb] #ca1    
#bjad4  7#b7 ,transition rule ,9 ! case 
( a refund ( qualifi$ high] education   
exp5ses receiv$ aft] ,decemb] #ca1      
#bjad1 & be=e ! date ( ! enactm5t ( ?is 
,act1 section #ebi7;c77#c77;,d7 ( !     
,int]nal ,rev5ue ,code ( #aihf 7z add$  

by ?is section7 %all be appli$ by       
sub/itut+ n lat] ?an #fj days aft] !    
date ( ! enactm5t ( ?is subp>agraph = n 
lat] ?an #fj days aft] ! date ( su*     
refund4  ,pass$ ! ,h\se (               
,repres5tatives ,febru>y #be1 #bjae4,k>5
 ,l4 ,haas1,cl]k