Two lawmakers introduced a bi-partisan bill last Tuesday that would permanently preserve the tax exemption on qualified withdrawals from 529 college savings plans, the so-called sunset provision that is set to expire after 2010.

Representatives Melissa Hart (R-Pa.) and Earl Pomroy (D-N.D.), both members of the House Ways & Means Committee, seek to eliminate the sunset provision on reforms enacted in 2001 that mitigate the rising costs of college education through tax-free withdrawals.

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