```

[107th Congress Public Law 22]
[From the U.S. Government Printing Office]

<DOC>
[DOCID: f:publ022.107]

[[Page 115 STAT. 196]]

Public Law 107-22
107th Congress

                                 An Act

 
   To amend the Internal Revenue Code of 1986 to rename the education 
   individual retirement accounts as the Coverdell education savings 
             accounts. <<NOTE: July 26, 2001 -  [S. 1190]>> 

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,
SECTION 1. RENAMING EDUCATION INDIVIDUAL RETIREMENT ACCOUNTS AS 
                            COVERDELL EDUCATION SAVINGS ACCOUNTS.

    (a) In General.--
            (1) Section <<NOTE: 26 USC 530.>> 530 of the Internal 
        Revenue Code of 1986 is amended by striking ``an education 
        individual retirement account'' each place it appears and 
        inserting ``a Coverdell education savings account''.
            (2) Section 530(a) of such Code is amended--
                    (A) by striking ``An education individual retirement 
                account'' and inserting ``A Coverdell education savings 
                account'', and
                    (B) by striking ``the education individual 
                retirement account'' and inserting ``the Coverdell 
                education savings account''.
            (3) Section 530(b)(1) of such Code is amended--
                    (A) by striking ``education individual retirement 
                account'' in the text and inserting ``Coverdell 
                education savings account'', and
                    (B) by striking ``Education individual retirement 
                account'' in the heading and inserting ``Coverdell 
                education savings account''.
            (4) Sections 530(d)(5) and 530(e) of such Code are amended 
        by striking ``education individual retirement account'' each 
        place it appears and inserting ``Coverdell education savings 
        account''.
            (5) The heading for section 530 of such Code is amended to 
        read as follows:

``SEC. 530. COVERDELL EDUCATION SAVINGS ACCOUNTS.''.

            (6) The item in the table of contents for part VII of 
        subchapter F of chapter 1 of such Code relating to section 530 
        is amended to read as follows:
                ``Sec. 530. Coverdell education savings accounts.''.

    (b) Conforming Amendments.--
            (1) The following provisions of the Internal Revenue Code of 
        1986 are amended by striking ``an education individual 
        retirement'' each place it appears and inserting ``a Coverdell 
        education savings'':
                    (A) <<NOTE: 26 USC 72.>> Section 72(e)(9).

[[Page 115 STAT. 197]]

                    (B) <<NOTE: 26 USC 135.>> Section 135(c)(2)(C).
                    (C) <<NOTE: 26 USC 4973.>> Section 4973(a).
                    (D) <<NOTE: 26 USC 4975.>> Subsections (c) and (e) 
                of section 4975.
            (2) The following provisions of such Code are amended by 
        striking ``education individual retirement'' each place it 
        appears in the text and inserting ``Coverdell education 
        savings'':
                    (A) <<NOTE: 26 USC 26.>> Section 26(b)(2)(E).
                    (B) Section 4973(e).
                    (C) <<NOTE: 26 USC 6693.>> Section 6693(a)(2)(D).
            (3) The headings for the following provisions of such Code 
        are amended by striking ``education individual retirement'' each 
        place it appears and inserting ``coverdell education savings''.
                    (A) <<NOTE: 26 USC 72.>> Section 72(e)(9).
                    (B) <<NOTE: 26 USC 135.>> Section 135(c)(2)(C).
                    (C) <<NOTE: 26 USC 529.>> Section 529(c)(3)(B)(vi).
                    (D) Section 4975(c)(5).
            (4) The heading for section 4973(e) of such Code is amended 
        by striking ``Education Individual Retirement'' and inserting 
        ``Coverdell Education Savings''.

    (c) Effective Date.--The <<NOTE: 26 USC 2626 note.>> amendments made 
by this section shall take effect on the date of the enactment of this 
Act.

    Approved July 26, 2001.

LEGISLATIVE HISTORY--S. 1190:
---------------------------------------------------------------------------

CONGRESSIONAL RECORD, Vol. 147 (2001):
            July 18, considered and passed Senate.
            July 23, considered and passed House.

                                  <all>
```