by such institution for room and board costs for such period. . (b) Conforming amendments (1) Section 72(t)(7)(A) of such Code is amended by striking 529(e)(3) and inserting 529(e)(3)(C) . (2) Section 529(c)(3)(B) of such Code is amended by striking qualified higher education expenses in the heading thereof and inserting qualified education expenses . (3) Section 529(c)(3)(B)(i) of such Code is amended by striking qualified higher education expense and inserting qualified education expense . (4) Section 529 of such Code is amended by striking qualified higher education expenses each place it appears and inserting qualified education expenses in each of the following: (A) Subsection (b)(1)(A)(i). (B) Subsection (b)(1)(A)(ii). (C) Subsection (b)(6). (D) Subsection (c)(3)(B)(ii)(I). (E) Subsection (c)(3)(B)(v). (F) Subsection (c)(3)(B)(vi)(II). (G) Subsection (c)(6). (5) Section 530(b) of such Code is amended by striking paragraphs (2) and (3) and redesignating paragraph (4) as paragraph (2). (6) Section 1400O(1) of such Code is amended by striking 529(e)(3) and inserting 529(e)(3)(C) . (c) Effective Date The amendments made by this section shall apply to taxable years beginning after December 31, 2016. 3. Increased limitation on contributions to Coverdell education savings accounts (a) In general Section 530(b)(1)(A)(iii) of the Internal Revenue Code of 1986 is amended by striking $2,000 and inserting $12,000 . (b) Inflation Adjustment Section 530 of such Code is amended by adding at the end the following new subsection: (i) Inflation Adjustment (1) In general In the case of any taxable year beginning after 2014, the $12,000 amount contained in subsection (b)(1)(A)(iii) shall be increased by an amount equal to— (A) such dollar amount, multiplied by (B) the cost-of-living adjustment determined under section 1(f)(3) for the calendar year in which the taxable year begins, determined by substituting calendar year 2014 for calender year 1992 in subparagraph (B) thereof. (2) Rounding rule Any increase determined under