Summary: S.195 — 114th Congress (2015-2016)All Information (Except Text)

There is one summary for S.195. Bill summaries are authored by CRS.

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Introduced in Senate (01/20/2015)

401(Kids) Education Savings Account Act of 2015

Amends the Internal Revenue Code to: (1) eliminate after 2015 the income-based reduction of contributions to Coverdell education savings accounts, (2) increase the annual contribution limit for such accounts, (3) allow the use of such an account to pay home school expenses and the acquisition costs of a first-time homebuyer, and (4) allow tax-free rollovers of amounts in a Coverdell education savings account to a Roth individual retirement account.