[19980619]97-852_中小学教育储蓄账户.pdf

Congressional Research Service The Library of CongressCRS Report for CongressReceived through the CRS Web97-852 EPWUpdated June 19, 1998Education Savings Accounts for Elementary and Secondary EducationBob LykeSpecialist in Social LegislationEducation and Public Welfare DivisionSummaryThe Taxpayer Relief Act of 1997 (P.L. 105-34) that President Clinton signed onAugust 5, 1997, authorized new education individual retirement accounts (educationIRAs) for higher education expenses. When the legislation was enacted, identical billswere introduced in both the House (H.R. 2373) and Senate (S. 1133) to increase annualcontribution limits from $500 to $2,000 and allow accounts to be used for elementaryand secondary education expenses. The bills are similar to an amendment introduced bySenator Coverdell that the Senate adopted during initial floor consideration of theTaxpayer Relief Act. The amendment was not included in the conference agreementbecause of a threatened veto by the President. Legislation similar to these bills was approved by the House on October 23, 1997(a modified version of H.R. 2646) and the Senate on April 23, 1998 (an amendment toH.R. 2646). The June 10 conference agreemen