Help Kids Save for College Act of 2013

“139E. Employer matching contributions to section 529 college savings plans

“(a) Exclusion—Gross income of an employee does not include amounts paid during the taxable year by the employer to a qualified tuition program for the benefit of a designated beneficiary if such amounts are paid pursuant to a college savings assistance program.

“(b) Limitation—The amount excluded from the gross income of an employee under subsection (a) for any taxable year with respect to each designated beneficiary shall not exceed the lesser of—

“(1) $1,000, or

“(2) the amount paid by the employee during such year to such program for the benefit of such beneficiary.

“(c) College savings assistance program—For purposes of this section, a college savings assistance program is a separate written plan of an employer for the exclusive benefit of such employer's employees—

“(1) under which the employer makes payments to qualfied tuition programs for the benefit of designated beneficiaries, and

“(2) which meets requirements similar to the requirements of paragraphs (2), (3), (5), and (6) of section 127(b).

“(d) Definitions—For purposes of this section, terms used is this section which are also used in section 529 shall have the respective meanings given such terms by section 529.”