PUBLIC LAW 105-206-^ULY 22, 1998 112 STAT. 795 amount paid or distributed from an education individual retirement account to the extent that the amount received is paid, not later than the 60th day after the date of such payment or distribution, into another education individual retirement account for the benefit of the same beneficiary or a member of the family (within the meaning of section 529(e)(2)) of such beneficiary who has not attained age 30 as of such date.". (B) Paragraph (6) of section 530(d) of the 1986 Code is amended by inserting before the period "and has not attained age 30 as of the date of such change". (9) Subparagraph (C) of section 135(c)(2) of the 1986 Code is amended— (A) by inserting "AND EDUCATION INDIVIDUAL RETIRE- MENT ACCOUNTS" in the heading after "PROGRAM"; and (B) by striking "section 529(c)(3)(A)" and inserting "section 72". (10)(A) Paragraph (1) of section 4973(e) of the 1986 Code is amended to read as follows: "(1) IN GENERAL. —In the case of education individual retirement accounts maintained for the benefit of any one beneficiary, the term 'excess contributions' means the sum of— "(A) the amount by which the amount contributed for the taxable year to such accounts exceeds $500 (or, if less, the sum of the maximum amounts permitted to be contributed under section 530(c) by the contributors to such accounts for such year); "(B) if any amount is contributed (other than a contribution described in section 530(b)(2)(B)) during such year to a qualified State tuition program for the benefit of such beneficiary, any amount contributed to such accounts for such taxable year; and "(C) the amount determined under this subsection for the preceding taxable year, reduced by the sum of— "(i) the distributions out of the accounts for the taxable year (other than rollover distributions); and "(ii) the excess (if any) of the maximum amount which may be contributed to the accounts for the taxable year over the amount contributed to the accounts for the taxable year.". (B) Paragraph (2) of section 4973(e) of the 1986 Code is amended by striking subparagraph (B) and by redesignating subparagraph (C) as subparagraph (B). (e) AMENDMENTS RELATED TO SECTION 224 OF 1997 ACT. — (1) Clauses (vi) and (vii) of section 170(e)(6)(B) of the 1986 Code are each amended by striking "entity's" and inserting "donee's". (2) Clause (iv) of section 170(e)(6)(B) of the 1986 Code is amended by striking "organization or entity" and inserting "donee". (3) Subclause (I) of section 170(e)(6)(C)(ii) of the 1986 Code is amended by striking "an entity" and inserting "a donee". (4) Section 170(e)(6)(F) of the 1986 Code (relating to termination) is amended by striking "1999" and inserting "2000". (f) AMENDMENTS RELATED TO SECTION 225 OF 1997 ACT. — (1) The last sentence of section 108(f)(2) of the 1986 Code is amended to read as follows:
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