Section 1 Short title
This Act may be cited as the “The PACT (Protecting All College Tuition) Act of 2015”.
The PACT (Protecting All College Tuition) Act of 2015
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.
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).”