Two lawmakers introduced a bi-partisan bill Tuesday that would make permanent the tax exemption on qualified withdrawals from 529 college savings plans.

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. The provision is scheduled to sunset after 2010.

Subscribe Now

Access to premium content including in-depth coverage of mutual funds, hedge funds, 401(K)s, 529 plans, and more.

3-Week Free Trial

Insight and analysis into the management, marketing, operations and technology of the asset management industry.