Summary: S.243 — 114th Congress (2015-2016)All Information (Except Text)

There is one summary for S.243. Bill summaries are authored by CRS.

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Introduced in Senate (01/22/2015)

Allocating for Children's Education Act or the ACE Act

Amends the Internal Revenue Code, with respect to Coverdale education savings accounts, to: (1) increase from $2,000 to $5,000 the maximum allowable contribution to such accounts in a taxable year, and (2) allow distributions from such accounts for the purchase of athletic equipment at elementary and secondary schools.