,,ii  #aaf? ,,congress  #b;d ,session   
,s4 #cgfd  ,,9 ,,! ,,s5ate ,,( ,,!      
,,unit$ ,,/ates  ,may #ai1 #bjbj,mr4    
,casey 7= himself1 ,mr4 ,wyd51 & ,mr4   
,s*um]7 introduc$ ! foll[+ bill2 :i* 0  
read twice & ref]r$ to ! ,committee on  
,f9ance  ,a ,,bill  ,to create ,f$]al   
*ild sav+s acc\nts1 & = o!r purposes4   
#a4 ,%ort title ,?is ,act may be cit$ z 
! ,"y ,am]ican ,sav]s ,act ( #bjbj4  #b4
 ,e/abli%m5t ( *ild sav+s acc\nt program
  7a7 ,e/abli%m5t ( program ,! ,secret>y
 ( ! ,treasury %all1 n lat] ?an ,decemb]
 #ca1 #bjba1 e/abli% a p]man5t program1 
to be kn[n z ! ,f$]al ,*ild ,sav+s      
,acc\nt ,program1 :i* meets !           
requirem5ts ( ?is section to e/abli% &  
ma9ta9 a sav+s acc\nt meet+ !           
requirem5ts ( subsection 7c7 on behalf (
 eligible individuals4  7b7 ,program    
specifications  7#a7 ,9 g5]al  7,a7     
,sav+s acc\nts ,! ,f$]al ,*ild ,sav+s   
,acc\nt ,program e/abli%$ "u ?is section
 %all-- 7i7 p]mit ! p>5t or gu>dian ( an
 eligible individual to e/abli% a sav+s 

acc\nt :i* meets ! requirem5ts ( ?is    
subsection & subsection 7c7 on behalf ( 
! individual2  7ii7 e/abli% a sav+s     
acc\nt :i* meets ! requirem5ts ( ?is    
subsection & subsection 7c7 on behalf   
(-- 7,i7 eligible individuals :o are 9  
fo/] c>e1 9 coord9ation ) !             
,adm9i/ration = ,*ildr5 & ,families2 &  
7,,ii7 o!r eligible individuals on ^:   
behalf no acc\nt has be5 e/abli%$ by a  
p>5t or gu>dian "u clause 7i7 z ( ! "t !
 fir/ deposit "u p>agraph 7#d77;,a7 is  
due to be made on behalf ( su*          
individuals1  & notify su* individuals (
 ! e/abli%m5t ( su* acc\nts2  7iii7     
require ! assets ( ea* sav+s acc\nt     
e/abli%$ "u ! program to be held by !   
designat$ cu/odian2  7iv7 )9 !          
limitations ( p>agraph 7#c71 p]mit      
contributions to be made p]iodically to 
su* sav+s acc\nts by direct deposit     
?r\gh payroll d$uction or by electronic 
means1 & by me?ods t provide access = ! 
unbank$2  7v7 provide = ! annual deposit
 "u p>agraph 7#d7 & ! mat*+             

contributions "u p>agraph 7#e7 to be    
made to su* sav+s acc\nts1 if           
applicable2  7vi7 z provid$ 9 subsection
 7c71 p]mit di/ributions & rollov]s f   
su* sav+s acc\nts ^u reque/ ( ! p>5t or 
gu>dian ( ! individual on ^: behalf !   
acc\nt is e/abli%$ be=e ! individual has
 atta9$ age #ah1 or ^u reque/ ( su*     
individual aft] su* individual has      
atta9$ age #ah2  7vii7 include proc$ures
 to consolidate multiple acc\nts        
e/abli%$ = ! same individual & return   
excess contributions on an annual basis1
 ) notice provid$ to ! p>5t or gu>dian (
 ! individual 7or1 if appropriate1 to ! 
individual7 & a proc$ure = resolution ( 
disputes2 &  7viii7 ensure t su* sav+s  
acc\nts are inve/$ solely 9 ,unit$      
,/ates ,treasury bonds4  7,b7           
,regulations1 etc ,! ,secret>y ( !      
,treasury %all h au?ority to promulgate 
su* regulations1 rules1 & o!r guidance z
 are necess>y to implem5t ! ,f$]al ,*ild
 ,sav+s ,acc\nt ,program1 & are consi/5t
 ) ?is section & section #ebi;,b ( !    

,int]nal ,rev5ue ,code ( #aihf1         
includ+-- 7i7 rules reg>d+ ! provision (
 p]iodic notices to individuals & p>5ts 
or gu>dians ( individuals1 z            
appropriate1 on ^: behalf acc\nts are   
e/abli%$ "u ! program1 includ+ in=mation
 on acc\nt balances & activity2  7ii7   
rules reg>d+ b5efici>y designation 9 !  
case ( ! dea? ( ! individual on ^:      
behalf an acc\nt 0 e/abli%$2 &  7iii7   
coord9ation rules p]mitt+ sav+s acc\nts 
to be e/abli%$ "u ! ,f$]al ,*ild ,sav+s 
,acc\nt ,program 9 connection ) ,/ate & 
local laws t provide contributions to   
sav+s acc\nts = resid5ts4  7,c7 ,pilot  
program = deposits made ) ,f$]al p>tn]s 
,! ,secret>y ( ! ,treasury may1 9       
fulfillm5t ( subp>agraph 7,a77iv71      
e/abli% a pilot program :i* w\ld all[   
groc]y /ores1 ph>macies1 banks1 & o!r   
simil> bus9esses to p>tn] ) ! ,f$]al    
,gov]nm5t to accept ca% deposits f      
cu/om]s & to remit su* deposits to !    
,treasury = paym5t into sav+s acc\nts "u
 ! ,f$]al ,*ild ,sav+s ,acc\nt ,program4

  7#b7 ,no fees ,no fees %all be assess$
 on p>ticipants 9 ! ,f$]al ,*ild ,sav+s 
,acc\nt ,program4  7#c7 ,limitations    
7,a7 ,contribution m9imum ,! ,secret>y (
 ! ,treasury may e/abli% m9imum am\nts =
 initial & additional contributions to a
 sav+s acc\nt "u ! ,f$]al ,*ild ,sav+s  
,acc\nt ,program1 n to exce$ #e4  7,b7  
,contribution limitation ,contributions 
to a sav+s acc\nt "u ! ,f$]al ,*ild     
,sav+s ,acc\nt ,program dur+ any taxable
 ye> 7o!r ?an ! contribution made "u    
p>agraph 7#d77 %all n be accept$ to !   
ext5t su* contributions exce$ #b1ejj4   
7,c7 ,limitation on p>ticipation ,)9 a  
reasonable am\nt ( "t be=e ! date an    
eligible individual atta9s age #ag1 !   
designat$ cu/odian %all provide notice  
to ! eligible individual & ! p>5t or    
gu>dian ( ! eligible individual t-- 7i7 
no deposits "u p>agraph 7#d7 or 7#e7 w  
be made = cal5d> ye>s aft] ! ye> 9 :i* !
 individual atta9s age #ag2  7ii7 no    
fur!r contributions made by any p]son w 
be accept$ aft] ! date ! individual     

atta9s age #bf2 &  7iii7 ! individual   
7or1 z provid$1 ! individual's p>5t or  
gu>dian7 may elect to h ! acc\nt balance
 roll$ ov] or di/ribut$ z provid$1 & at 
! "t specifi$1 9 subsection 7c74  7#d7  
,annual deposit  7,a7 ,9 g5]al ,)9 a    
reasonable am\nt ( "t 7n to exce$ #fj   
days7 aft] ! fil+ ( ! return ( tax = ea*
 taxable ye> by a taxpay] claim+ an     
eligible individual z a dep5d5t1 !      
,secret>y ( ! ,treasury %all deposit    
#ejj into ! sav+s acc\nt e/abli%$ = su* 
individual "u ! ,f$]al ,*ild ,sav+s     
,acc\nt ,program4  7,b7 ,phase\t ,! #ejj
 am\nt "u subp>agraph 7,a7 %all be r$uc$
 7b n bel[ z]o7 by #be = ea* #a1jjj 7or 
fraction !re(7 by :i* ! taxpay]'s adju/$
 gross income 7z def9$ 9 section #fb ( !
 ,int]nal ,rev5ue ,code ( #aihf7 exce$s 
#ajj1jjj4  7,c7 ,deposit on behalf (    
*ildr5 9 fo/] c>e ,at an appropriate "t 
ea* ye> z det]m9$ by ! ,secret>y ( !    
,treasury 9 coord9ation ) !             
,adm9i/ration = ,*ildr5 & ,families1 su*
 ,secret>y %all deposit #ejj into !     

sav+s acc\nt e/abli%$ "u su* ,program = 
any eligible individual 9 fo/] c>e 9 any
 ,/ate ) respect to :om no deposit 0    
made = su* ye> "u subp>agraph 7,a74     
7#e7 ,mat*+ contributions ,if a cr$it is
 all[$ "u section #cb ( ! ,int]nal      
,rev5ue ,code ( #aihf to ! p>5t or      
gu>dian or an eligible individual = a   
taxable ye>1 ) respect to contributions 
made by su* p>5t or gu>dian to ! sav+s  
acc\nt ( su* eligible individual "u !   
,f$]al ,*ild ,sav+s ,acc\nt ,program    
dur+ ! succe$+ taxable ye>1 ! ,secret>y 
( ! ,treasury %all deposit into su*     
sav+s acc\nt an am\nt equal to s mu* (  
su* contributions z does n exce$ #bej4  
,su* deposit %all be made 9 addition to 
! deposit "u p>agraph 7#d74  7#f7       
,designat$ cu/odian ,= purposes ( ?is   
section1 ! designat$ cu/odian is ! p]son
 designat$ by ! ,secret>y ( ! ,treasury 
to act z cu/odian ( ! sav+s acc\nts     
e/abli%$ on behalf ( p>ticipants 9 !    
,f$]al ,*ild ,sav+s ,acc\nt ,program4   
7#g7 ,/ate ,= purposes ( ?is section1 ! 

t]m ,/ate includes ! ,di/rict (         
,columbia1 any possession ( ! ,unit$    
,/ates1 & any ,indian tribe 7z def9$ 9  
section #de;,a7c77#f7 ( ! ,int]nal      
,rev5ue ,code ( #aihf74  7#h7 ,deposit (
 mat*+ contributions into ,ro? ,,ira ,if
 a p>5t or gu>dian ( an eligible        
individual is eligible to receive any   
mat*+ contribution "u p>agraph 7#e71 su*
 p>5t or gu>dian may elect ei!r to h su*
 mat*+ contribution paid to ! sav+s     
acc\nt ( su* eligible individual "u !   
,f$]al ,*ild ,sav+s ,acc\nt ,program or 
to a ,ro? ,,ira ( su* p>5t or gu>dian4  
,! ,secret>y ( ! ,treasury %all e/abli% 
a p]man5t program t creates & ma9ta9s a 
,ro? ,,ira 7)9 ! mean+ ( section #djh;,a
 ( ! ,int]nal ,rev5ue ,code7 on behalf (
 a p>5t or gu>dian :o elects = ! mat*+  
contribution to be made to 8 or h] ,ro? 
,,ira & :o ei!r affirmatively *ooses to 
p>ticipate 9 ! program or does n id5tify
 a ,ro? ,,ira = receipt ( ! mat*+       
contribution4 ,! p]man5t program %all   
provide = inve/m5t ( acc\nt balances    

solely )9 ,unit$ ,/ates ,treasury bonds 
& %all n *>ge any fees to acc\nt own]s4 
7#i7 ,inflation adju/m5ts  7,a7 ,9 g5]al
 ,9 ! case ( any cal5d> ye> aft] #bjba1 
! #b1ejj am\nt 9 p>agraph 7#c77;,b71 !  
#ejj am\nt 9 p>agraphs 7#d77;,a71       
7#d77;,b71 & 7#d77;,c71 & ! #bej am\nt 9
 p>agraph 7#e7 %all ea* be increas$ by  
an am\nt equal to-- 7i7 su* doll> am\nt2
 multipli$ by  7ii7 ! co/-(-liv+        
adju/m5t det]m9$ "u section #a7;f77#c7 (
 ! ,int]nal ,rev5ue ,code ( #aihf = !   
cal5d> ye>1 det]m9$ by sub/itut+ cal5d> 
ye> #bjbj = cal5d> ye> #bjaf 9          
subp>agraph 7,a77ii7 !re(4  7,b7 ,r\nd+ 
,if any doll> am\nt increas$ "u         
subp>agraph 7,a7 is n a multiple ( #e1  
su* doll> am\nt %all be r\nd$ to ! ne>e/
 multiple ( #e4  7#aj7 ,acc\nts may n be
 assign$ ,an acc\nt e/abli%$ on behalf (
 an individual "u ! ,f$]al ,*ild ,sav+s 
,acc\nt ,program may n be pl$g$ or      
assign$ to any o!r p]son4  7c7          
,di/ributions f sav+s acc\nt  7#a7 ,9   
g5]al ,aft] ! e>li] (-- 7,a7 ! date !   

individual on ^: behalf ! sav+s acc\nt  
"u ! ,f$]al ,*ild ,sav+s ,acc\nt        
,program 0 e/abli%$ atta9s age #bf2 or  
7,b7 ! date su* individual receives a   
ba*elor's degree or associate's degree1 
or enli/s 9 active duty milit>y s]vice (
 ! ,unit$ ,/ates1  am\nts 9 su* acc\nt  
may be contribut$ 9 a direct transf] to 
a ,ro? ,,ira 7z def9$ 9 section         
#djh;,a7b7 ( ! ,int]nal ,rev5ue ,code ( 
#aihf7 or a designat$ ,ro? acc\nt 7)9 ! 
mean+ ( section #djb;,a ( su* ,code7    
accord+ to ! rules ( ! ,int]nal ,rev5ue 
,code ( #aihf1 or di/ribut$ to !        
individual 9 ca%4  7#b7 ,di/ributions = 
high] education exp5ses ,)\t reg>d to ! 
date requirem5ts ( p>agraph 7#a71 a     
portion ( ! am\nt 9 a sav+s acc\nt      
e/abli%$ "u ! ,f$]al ,*ild ,sav+s       
,acc\nt ,program may be di/ribut$ 9 ca% 
to ! individual or to ! p>5t or gu>dian 
( ! individual = ! paym5t ( qualifi$    
high] education exp5ses ( ! individual  
at an eligible educational in/itution4  
,! aggregate am\nt s di/ribut$ %all n   

exce$ #ej p]c5t ( ! am\nt 9 su* acc\nt z
 ( ! due date = ! fir/ paym5t ( tuition 
= ! enrollm5t ( ! individual on ^:      
behalf ! acc\nt is e/abli%$ z an        
eligible /ud5t at su* eligible          
educational in/itution4  7#c7           
,contribution to ,,able acc\nt ,)\t     
reg>d to ! date requirem5ts ( p>agraph  
7#a71 all or a portion ( ! am\nt 9 a    
sav+s acc\nt e/abli%$ "u ! ,f$]al ,*ild 
,sav+s ,acc\nt ,program may be          
contribut$ 9 a direct transf] to an     
,,able acc\nt e/abli%$ = ! b5efit ( !   
individual "u section #ebi;,a ( !       
,int]nal ,rev5ue ,code ( #aihf 7if !    
individual is eligible = purposes (     
section #ebi;,a7e77#a7 ( su* ,code74    
7#d7 ,def9itions ,any t]m us$ 9 ?is     
subsection :i* is also us$ 9 section    
#ebi ( ! ,int]nal ,rev5ue ,code ( #aihf 
has ! same mean+ z :5 us$ 9 su* section4
  7d7 ,eligible individual ,= purposes (
 ?is section1 ! t]m eligible individual 
means a *ild :o has n atta9$ age #ah &  
is a resid5t ( ! ,unit$ ,/ates4  7e7    

,treatm5t ( acc\nts "u c]ta9 ,f$]al     
programs  7#a7 ,acc\nt funds disreg>d$ =
 purposes ( c]ta9 o!r means-te/$ ,f$]al 
programs ,not)/&+ any o!r provision (   
,f$]al law t requires consid]ation ( "o 
or m f9ancial circum/ances ( an         
individual1 = ! purpose ( det]m9+       
eligibility to receive1 or ! am\nt (1   
any assi/ance or b5efit au?oriz$ by su* 
provision to be provid$ to or = ! b5efit
 ( su* individual1 any am\nt 7includ+   
e>n+s !reon7 9 an individual's acc\nt   
e/abli%$ "u ! ,f$]al ,*ild ,sav+s       
,acc\nt ,program1 any contributions to  
su* acc\nt1 & any di/ribution 7or       
portion !re(7 :i* is exempt f ! tax "u  
section #ebi;,b7d77#c7 ( ! ,int]nal     
,rev5ue ,code ( #aihf %all be disreg>d$ 
= su* purpose ) respect to any p]iod    
dur+ :i* su* individual ma9ta9s1 makes  
contributions to1 or receives           
di/ributions f su* acc\nt1 except t--   
7,a7 a di/ribution = qualifi$           
acquisition co/s 7)9 ! mean+ ( section  
#ebi;,b7d77#c77;,c77ii7 ( su* ,code7    

%all n be s disreg>d$2 &  7,b7 any am\nt
 7includ+ su* e>n+s7 9 su* acc\nt %all  
be consid]$ a res\rce ( ! individual to 
! ext5t t su* am\nt exce$s #ajj1jjj4    
7#b7 ,susp5sion ( ,,ssi b5efits dur+    
p]iods ( excessive acc\nt funds  7,a7 ,9
 g5]al ,! b5efits ( an individual "u !  
supplem5tal security income program "u  
title ,,xvi ( ! ,social ,security ,act  
%all n be t]m9at$1 b %all be susp5d$1 by
 reason ( excess res\rces ( ! individual
 attributable to an am\nt 9 ! acc\nt ( !
 individual e/abli%$ "u ! ,f$]al ,*ild  
,sav+s ,acc\nt ,program n disreg>d$ "u  
p>agraph 7#a74  7,b7 ,no impact on      
,m$icaid eligibility ,an individual :o  
w\ld be receiv+ paym5t ( su* supplem5tal
 security income b5efits b = !          
application ( subp>agraph 7,a7 %all be  
treat$ = purposes ( title ,,xix ( !     
,social ,security ,act z if ! individual
 cont9u$ to be receiv+ paym5t ( su*     
b5efits4  7f7 ,disclosure ( taxpay]     
in=mation  7#a7 ,9 g5]al ,subsection 7l7
 ( section #fajc ( ! ,int]nal ,rev5ue   

,code ( #aihf is am5d$ by add+ at ! end 
! foll[+ new p>agraph3  7#bc7           
,disclosure ( return in=mation =        
purposes ( adm9i/ration ( ! ,f$]al ,*ild
 ,sav+s ,acc\nt ,program ,! ,secret>y   
%all disclose to any (fic] or employee (
 ! ,dep>tm5t ( ! ,treasury1 z necess>y =
 ! adm9i/ration ( ! ,f$]al ,*ild ,sav+s 
,acc\nt ,program e/abli%$ "u section    
#b7;a7 ( ! ,"y ,am]ican ,sav]s ,act (   
#bjbj1 return in=mation relat+ to       
taxpay] id5tity1 dep5d5ts1 adju/$ gross 
income1 & :e!r ! taxpay] has claim$ !   
e>n$ income cr$it "u section #cb = !    
taxable ye>4  4  7#b7 ,prohibition (    
r$isclosure ,p>agraph 7#c7 ( section    
#fajc7;a7 ( ! ,int]nal ,rev5ue ,code (  
#aihf is am5d$ by /rik+ or 7#ba7 &      
ins]t+ 7#ba71 or 7#bc74  7g7 ,*ild      
,sav+s ,acc\nt ,program ,"p ,,viii (    
sub*apt] ,f ( *apt] #a ( ! ,int]nal     
,rev5ue ,code ( #aihf is am5d$ by ins]t+
 aft] section #ebi;,a ! foll[+ new      
section3  #ebi;,b4 ,*ild ,sav+s ,acc\nt 
,program  7a7 ,g5]al rule ,! ,f$]al     

,*ild ,sav+s ,acc\nt ,program %all be   
exempt f taxation "u ?is subtitle4  7b7 
,f$]al ,*ild ,sav+s ,acc\nt ,program ,= 
purposes ( ?is title1 ! t]m ,f$]al ,*ild
 ,sav+s ,acc\nt ,program means ! program
 e/abli%$ "u section #b7;a7 ( ! ,"y     
,am]ican ,sav]s ,act ( #bjbj4  7c7      
,treatm5t ( contributions & e>n+s  7#a7 
,9 g5]al ,no am\nt %all be includible 9 
gross income ( an individual on ^:      
behalf an acc\nt is e/abli%$ "u ! ,f$]al
 ,*ild ,sav+s ,acc\nt ,program1 or ( any
 taxpay] claim+ su* individual z a      
dep5d5t1 ) respect to any e>n+s "u !    
program4  7#b7 ,gov]nm5tal & mat*+      
contributions ,gross income ( an        
individual on ^: behalf an acc\nt is    
e/abli%$ "u ! ,f$]al ,*ild ,sav+s       
,acc\nt ,program1 or ( any taxpay]      
claim+ su* individual z a dep5d5t1 %all 
n include ! am\nt ( any deposit made to 
! individual's acc\nt "u ! program      
pursuant to section #b7;b77#d77;,a71    
#b7;b77#d77;,c71 or #b7;b77#e7 ( ! ,"y  
,am]ican ,sav]s ,act ( #bjbj4  7d7      

,treatm5t ( di/ributions  7#a7 ,9 g5]al 
,gross income %all n include any ca%    
di/ribution f an acc\nt "u ! ,f$]al     
,*ild ,sav+s ,acc\nt ,program p]mitt$ "u
 section #b7;c7 ( ! ,"y ,am]ican ,sav]s 
,act ( #bjbj4  7#b7 ,treatm5t ( rollov]s
  7,a7 ,ro? ,i,r,as ,any contribution f 
! ,f$]al ,*ild ,sav+s ,acc\nt ,program  
to a ,ro? ,,ira p]mitt$ "u section      
#b7;c77#a7 ( ! ,"y ,am]ican ,sav]s ,act 
( #bjbj %all be treat$-- 7i7 z a        
contribution f ano!r ,ro? ,,ira z       
describ$ 9 section #djh;,a7e77#a77;,a71 
&  7ii7 z hav+ be5 contribut$ to su*    
,ro? ,,ira 9 a direct tru/ee-to-tru/ee  
transf] )9 #fj days ( ! di/ribution =   
purposes ( section #djh7;d77#c74  7,b7  
,designat$ ,ro? acc\nts ,any            
contribution f ! ,f$]al ,*ild ,sav+s    
,acc\nt ,program to a designat$ ,ro?    
acc\nt p]mitt$ "u section #b7;c77#a7 ( !
 ,"y ,am]ican ,sav]s ,act ( #bjbj %all  
be treat$-- 7i7 z a contribution f ano!r
 designat$ ,ro? acc\nt = purposes (     
section #djb;,a7c77#c71 &  7ii7 z hav+  

be5 contribut$ to su* designat$ ,ro?    
acc\nt 9 a direct tru/ee-to-tru/ee      
transf] )9 #fj days ( ! di/ribution =   
purposes ( section #djb7;c74  7,c7      
,,able acc\nts ,any contribution f !    
,f$]al ,*ild ,sav+s ,acc\nt ,program to 
an ,,able acc\nt p]mitt$ "u section     
#b7;c77#c7 ( ! ,"y ,am]ican ,sav]s ,act 
( #bjbj %all be treat$-- 7i7 z a        
contribution f ano!r ,,able acc\nt z    
describ$ 9 section                      
#ebi;,a7c77#a77;,c77i71 &  7ii7 z hav+  
be5 contribut$ to su* ,,able acc\nt )9  
#fj days ( ! di/ribution = purposes (   
su* section4  7#c7 ,tax on nonqualifi$  
use  7,a7 ,9 g5]al ,! tax impos$ by ?is 
title = ! taxable ye> %all be increas$  
by an am\nt equal to #bj p]c5t ( ! am\nt
 ( any di/ribution o!r ?an a rollov]    
describ$ 9 p>agraph 7#b7 f an acc\nt "u 
! ,f$]al ,*ild ,sav+s ,acc\nt ,program  
dur+ ! taxable ye>1 unless ! qualifi$   
exp5ses ( ! individual on ^: behalf !   
acc\nt 0 e/abli%$ paid or incurr$ dur+ !
 taxable ye> ( ! di/ribution are equal  

to or exce$ ! am\nt ( su* di/ribution4  
7,b7 ,di/ributions f ,ro? ,,ira ,if any 
am\nt is contribut$ to a ,ro? ,,ira 9 a 
rollov] di/ribution f an acc\nt "u !    
,f$]al ,*ild ,sav+s ,program z provid$ 9
 section #b7;c77#a7 ( ! ,"y ,am]ican    
,sav]s ,act ( #bjbj1 ! tax impos$ by ?is
 title = any taxable ye> %all be        
increas$ by an am\nt equal to #bj p]c5t 
( ! am\nt ( any di/ribution f su* ,ro?  
,,ira )9 ! #e-ye> p]iod beg9n+ on ! date
 ( ! rollov]1 to ! ext5t t su*          
di/ribution f ! ,ro? ,,ira1 :5 aggregat$
 ) all o!r di/ributions f su* ,ro? ,,ira
 dur+ su* #e-ye> p]iod1 does n exce$ !  
am\nt contribut$ 9 su* rollov]          
di/ribution4 ,! prec$+ s5t5ce %all n    
apply to ! ext5t ! qualifi$ exp5ses ( ! 
individual on ^: behalf ! acc\nt "u !   
,f$]al ,*ild ,sav+s ,acc\nt ,program 0  
e/abli%$ :i* are paid or incurr$ dur+ ! 
taxable ye> ( ! di/ribution f ! ,ro?    
,,ira are equal to or exce$ ! am\nt (   
su* di/ribution4  7,c7 ,qualifi$ exp5ses
 ,= purposes ( subp>agraphs 7,a7 & 7,b71

 ! t]m qualifi$ exp5ses means am\nts    
paid or incurr$ by an individual-- 7i7 z
 collat]al requir$ = a loan provid$ by !
 ,small ,bus9ess ,adm9i/ration1  7ii7 z 
qualifi$ acquisition co/s 7z def9$ 9    
section #gb7t77#h77;,c77 ) respect to a 
resid5ce int5d$ to be ! prim>y resid5ce 
( ! individual1 or  7iii7 = qualifi$    
high] education exp5ses ( ! individual  
at an eligible educational in/itution4  
7#d7 ,def9itions ,any t]m us$ 9 ?is     
subsection :i* is also us$ 9 section    
#ebi ( ! ,int]nal ,rev5ue ,code ( #aihf 
has ! same mean+ z :5 us$ 9 su* section4
  4  7h7 ,cl]ical am5dm5t ,! table (    
sections = "p ,,viii ( sub*apt] ,f (    
*apt] #a ( ! ,int]nal ,rev5ue ,code (   
#aihf is am5d$ by ins]t+ aft] ! item    
relat+ to section #ebi;,a ! foll[+ new  
item3  ,sec4 #ebi;,b4 ,*ild ,sav+s      
,acc\nt ,program4  4  7i7 ,appropriation
 ,!re is h]eby appropriat$ to !         
,secret>y ( ! ,treasury1 to rema9       
available until sp5t )\t fiscal ye>     
limitation-- 7#a7 #ajj1jjj1jjj =        

te*nology & te*nology sy/ems necess>y = 
! implem5tation & adm9i/ration ( !      
,f$]al ,*ild ,sav+s ,acc\nt ,program2   
7#b7 #be1jjj1jjj = ea* fiscal ye> beg9n+
 ) fiscal ye> #bjba = ! adm9i/ration ( !
 ,f$]al ,*ild ,sav+s ,acc\nt ,program2 &
  7#c7 su* sums z are necess>y to make  
contributions to ,f$]al ,*ild ,sav+s    
,acc\nts z requir$ "u p>agraphs         
7#d77;,a71 7#d77;,c71 & 7#e7 (          
subsection 7c74