Education Savings Bond

Education Savings Bond means:
certain U.S. government bonds issued after 1989 (e.g., Series EE bonds) and used by an individual to pay qualified higher education expenses. Income from these bonds may be excluded from taxable income, using Form 8815. This valuable exclusion is subject to a phase-out for middle- and upper-income taxpayers based on inflation-adjusted ranges. Former IRC (check if this IRC provision is current here) §135.

See the entries Income Tax and State Income Tax in the American Encyclopedia of Law.