S.2425 - Collegiate Learning and Student Savings Act105th Congress (1997-1998)
|Sponsor:||Sen. Sessions, Jeff [R-AL] (Introduced 07/31/1998)|
|Committees:||Senate - Finance|
|Latest Action:||07/31/1998 Read twice and referred to the Committee on Finance.|
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Summary: S.2425 — 105th Congress (1997-1998)All Bill Information (Except Text)
Introduced in Senate (07/31/1998)
Collegiate Learning and Student Savings Act - Amends the Internal Revenue Code to: (1) permit private higher educational institutions, in addition to currently permitted State institutions, to establish qualified tuition programs; and (2) exclude from gross income such program distributions used for qualified higher education expenses.
Amends the Investment Company Act of 1940 to exempt qualified tuition programs from the definition of an investment company.