Permit the entire recontributed amount to be treated as principal, thus eliminating the need to determine the earnings portion, and allowing the entire refund to be tax-free if recontributed to the plan within 60 days of the refund;

Provide that the recontributed amount won’t count against the Sec 529(b)(6) limit on contributions on behalf of the designated beneficiary (related to contributions in excess of those necessary to provide for the qualified higher education expenses of the beneficiary); and

Specify that the recontributed amount must be to the Sec 529 plan for the benefit of the beneficiary who received the refund but the recontribution doesn’t have to be into the same plan from which the original distribution was made.