A bill to amend the Internal Revenue Code of 1986 to rename  the education individual retirement accounts as the Coverdell education savings account.
PL 107-22 (S.1190), enacted 07/26/2001

115 STAT. 196 
PUBLIC LAW 107-22^JULY 26, 2001 
Public Law 107-22 
107th Congress 
An Act 
July 26, 2001 
To amend the Internal Revenue Code of 1986 to rename the education individual 
[S. 1190] 
retirement accounts as the CoverdeU education savings accounts. 
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.— 
26 use 530. 
(1) Section 530 of the Internal Revenue Code of 1986 is 
amended by striking "an education individual retirement 
account" each place it appears and inserting "a CoverdeU edu-
cation savings account". 
(2) Section 530(a) of such Code is amended— 
(A) by striking "An education individual retirement 
account" and inserting "A CoverdeU education savings 
account", and 
(B) by striking "the education individual retirement 
account" and inserting "the CoverdeU 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 "CoverdeU education 
savings account", and 
(B) by striking "EDUCATION INDIVIDUAL RETIREMENT 
ACCOUNT" in the heading and inserting "COVERDELL EDU-
CATION 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 sub-
chapter 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 retire-
ment" each place it appears and inserting "a Coverdell edu-
cation savings": 
26 use 72. 
(A) Section 72(e)(9). 
PUBLIC LAW 107-22-^TULY 26, 2001 
115 STAT. 197 
(B) Section 135(c)(2)(C). 
26 USC 135. 
(C) Section 4973(a). 
26 USC 4973. 
(D) Subsections (c) and (e) of section 4975. 
26 USC 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) Section 26(b)(2)(E). 
26 USC 26. 
(B) Section 4973(e). 
(C) Section 6693(a)(2)(D). 
26 USC 6693. 
(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) Section 72(e)(9). 
26 USC 72. 
(B) Section 135(c)(2)(C). 
26 USC 135. 
(C) Section 529(c)(3)(BXvi). 
26 USC 529. 
(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 amendments made by this section 26 use 2626 
shall take effect on the date of the enactment of this Act. 
J^ote. 
Approved July 26, 2001. 
LEGISLATIVE HISTORY—S. 1190: 
CONGRESSIONAL RECORD, Vol. 147 (2001): 
July 18, considered and passed Senate. 
Jvily 23, considered and passed House.