H.R. 4794 - Investing for Tomorrow Act

115TH CONGRESS
2D SESSION

H.R. 4794

To amend the Internal Revenue Code of 1986 to permit unborn children to be
account beneficiaries of section 529 education savings accounts.

IN THE HOUSE OF REPRESENTATIVES

JANUARY 16, 2018

Mrs. NOEM introduced the following bill; which was referred
to the Committee on Ways and Means

A BILL

To amend the Internal Revenue Code of 1986 to permit unborn children to be account beneficiaries of section 529 education savings accounts.

Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

This Act may be cited as the "Investing for Tomorrow Act".

SEC. 2. UNBORN CHILDREN PERMITTED TO BE ACCOUNT BENEFICIARIES OF SECTION 529 EDUCATION SAVINGS ACCOUNTS.

(a) IN GENERAL. — Section 529(e) of the Internal Revenue Code of 1986 is amended by adding at the end the following new paragraph:

"(6) TREATMENT OF UNBORN CHILDREN. —

"(A) IN GENERAL. — Nothing shall prevent an unborn child from being treated as a designated beneficiary or an individual under this section.

"(B) UNBORN CHILD. — For purposes of this paragraph —

"(i) IN GENERAL. — The term 'unborn child' means a child in utero.

"(ii) CHILD IN UTERO. — The term 'child in utero' means a member of the species homo sapiens, at any stage of development, who is carried in the womb.".

(b) EFFECTIVE DATE. — The amendment made by this section shall apply to contributions made after the date of the enactment of this Act.