PACT (Protecting All College Tuition) Act of 2015

PACT (Protecting All College Tuition) Act of 2015

This bill amends the federal bankruptcy code, with respect to transfers of interests that may be avoided by a bankruptcy trustee, to except tuition payments by a parent to an institution of higher education for the education of that parent's child.

[Congressional Bills 114th Congress]
[From the U.S. Government Publishing Office]
[H.R. 2267 Introduced in House (IH)]

114th CONGRESS
  1st Session
                                H. R. 2267

 To amend title 11, United States Code, to provide an exception to the 
avoidance of transactions by bankruptcy trustee under section 548 where 
the transaction was a good faith payment by a parent of post secondary 
               education tuition for that parent's child.


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                    IN THE HOUSE OF REPRESENTATIVES

                              May 12, 2015

Mr. Collins of New York (for himself and Mr. Farenthold) introduced the 
  following bill; which was referred to the Committee on the Judiciary

_______________________________________________________________________

                                 A BILL


 
 To amend title 11, United States Code, to provide an exception to the 
avoidance of transactions by bankruptcy trustee under section 548 where 
the transaction was a good faith payment by a parent of post secondary 
               education tuition for that parent's child.

    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 ``The PACT (Protecting All College 
Tuition) Act of 2015''.

SEC. 2. EXCEPTION TO SECTION 548 AVOIDANCE.

    Section 548 of title 11, United States Code, is amended by adding 
at the end the following:
    ``(f) A payment of tuition by a parent to an institution of higher 
education (as defined in either section 101 or 102 of the Higher 
Education Act) for the education of that parent's child is not a 
transfer covered under paragraph (1)(B).''.
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