ELIMINATION OF RESIDENCY REQUIREMENT FOR QUALIFIED ABLE PROGRAMS.

SEC. 303. ELIMINATION OF RESIDENCY REQUIREMENT FOR QUALIFIED ABLE PROGRAMS. (a) [26 U.S.C. 529A] In General.—Section 529A(b)(1) is amended by striking subparagraph (C), by inserting “and” at the end of subparagraph (B), and by redesignating subparagraph (D) as subparagraph (C). (b) Conforming amendments.— (1) The second sentence of section 529A(d)(3) is amended by striking “and State of residence”. (2) Section 529A(e) is amended by striking paragraph (7). (c) Technical Amendments.— (1) Section 529A(d)(4) is amended by striking “section 4” and inserting “section 103”. (2) Section 529A(c)(1)(C)(i) is amended by striking “family member” and inserting “member of the family”. (d) [26 U.S.C. 529A note] Effective Date.—The amendments made by this section shall apply to taxable years beginning after December 31, 2014.