- Not enactedThe President has not signed this bill
- The senate has not voted
- The house has not voted
Committee on Financial ServicesIntroducedAugust 2nd, 2013
- house Committees
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College Savings Enhancement Act of 2013
To direct the Securities and Exchange Commission to revise certain rules relating to the status of qualified prepaid tuition programs under the securities laws.
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.