INVESTMENT DIRECTION RULE FOR 529 PLANS.

SEC. 105. INVESTMENT DIRECTION RULE FOR 529 PLANS.(a) Amendments Relating to Investment Direction Rule for 529 Plans.—(1) Paragraph (4) of section 529(b) is amended by striking “may not directly or indirectly” and all that follows and inserting “may, directly or indirectly, direct the investment of any contributions to the program (or any earnings thereon) no more than 2 times in any calendar year.”.(2) The heading of paragraph (4) of section 529(b) is amended by striking “No” and inserting “Limited”.(b) Effective Date.—The amendments made by this section shall apply to taxable years beginning after December 31, 2014.