H.R.3029 - College Savings Enhancement Act of 2013113th Congress (2013-2014)
Summary: H.R.3029 — 113th Congress (2013-2014)
Introduced in House (08/02/2013)
College Savings Enhancement Act of 2013 - Directs the Securities and Exchange Commission (SEC) to revise specified regulations so as to include: (1) qualified prepaid tuition programs under the definition of a qualified institutional buyer (with respect to private resales of securities to institutions), and (2) as accredited investors any qualified prepaid tuition programs whose total assets exceed $5 million (with respect to Regulation D, governing the limited offer and sale of securities without registration under the Securities Act of 1933).
Defines, for purposes of such revisions, a "qualified prepaid tuition program" as a qualified tuition program (under which a person may purchase tuition credits or certificates on behalf of a designated beneficiary which entitle the beneficiary to the waiver or payment of the beneficiary's qualified higher education expenses), which is established and maintained by a state or state agency or instrumentality that satisfies certain other requirements of the Internal Revenue Code.