Summary: S.2425 — 105th Congress (1997-1998)All Information (Except Text)

There is one summary for S.2425. Bill summaries are authored by CRS.

Shown Here:
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.