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Date:
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9/3/2002 5:01:47 PM
Home School Legal Defense Association
Action Alert--Vote Tomorrow on Education Savings Accounts

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From the HSLDA E-lert Service...
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September 3, 2002

Dear HSLDA Members and Friends,

The U.S. House of Representatives is about to cast a vote that will
fix the Education Savings Accounts (ESA) law for home schoolers. It
will also make ESA permanent as the law is presently scheduled to
faze out by 2010.

Currently, the ESA law only allows home schoolers to participate if
they are considered private schools under state law. Tomorrow,
Wednesday, September, 4 the House will be voting on a suspension bill
introduced by Representative Kenny Holshof (9th/MO) that will amend
the law and give all home schoolers a chance to participate in the
education savings plan. Because it is a suspension bill and can't be
amended under the House rules, it needs a 2/3-majority vote to pass.

REQUESTED ACTION

Please, call your U.S. Congressman immediately and give him the
following message: "Please vote for H.R. 5203, the "Education Savings
and School Excellence Permanence Act of 2002."

You can reach your congressman through the U.S. Capitol Switchboard
number: 202-224-3121.

If you do not know who you congressmen is, visit HSLDA's legislative
toolbox at: http://www.hslda.org/toolbox .

BACKGROUND

Unfortunately, some home schoolers do not qualify for Educational
Savings Accounts. Home school students qualify only in states that
define home schools as private schools. These states include: AL, CA,
DE, IL, IN, KS, KY, LA, MI, NC, NE, TN, and TX. Five other states--
CO, FL, ME, VA, WV, and UT--recognize groups of home schoolers as
private schools, but individual home schools do not qualify.

HSLDA has worked closely with the Congress to fix this problem for
home schoolers. Please call and urge your congressman to vote yes on
H.R. 5203.

How do these education savings accounts work?

An ESA is an account in which interest and capital accumulate tax-
free for educational purposes. For example, upon the birth of their
first child, a family invests $2,000 in an ESA. They deposit $2,000
each year until the child reaches the age of six, at which time the
parents will have saved $12,000. If their money has been compounding
annually at 13% during that time, they will have earned $4,645.41 of
tax-free money toward their child's education expenses. A little math
demonstrates that the $4,645.41 in interest, divided by 12 years of
education, would give parents approximately $387.12 per year to spend
on their child's education.

Home school families would especially benefit from the fact that
anyone, not just parents, can contribute to a child's ESA. Friends
and relatives can give, as long as annual contributions do not exceed
$2,000. These new provisions are effective for tax years beginning
January 1, 2002.

Please join us in supporting this positive legislation.

Very truly yours,

Caleb Kershner
Manager, Federal Policy and Research

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