savings accounts The term qualified college savings account with respect to which such individual is the beneficiary means— (A) an account under a qualified tuition program (as defined by section 529), and (B) an account under a program of a State (or political jurisdiction thereof) established exclusively for the purpose of paying for college tuition and other post-secondary educational expenses. (6) Portion of credit made refundable So much of the credit allowed under subsection (a) as is attributable to this subsection (determined after the application of subsection (i) and without regard to this subsection and section 26(a)) shall be treated as a credit allowable under subpart C (and not allowed under subsection (a)). The preceding sentence shall not apply to any taxpayer for any taxable year if such taxpayer is a child to whom subsection (g) of section 1 applies for such taxable year. . (b) AOTC lifetime limitation Section 25A(i)(2) of such Code is amended to read as follows: (2) Limitation In lieu of subparagraphs (A) and (C) of subsection (b)(2), the amount allowed as a credit under this section for the taxable year with respect to an individual shall not exceed— (A) $10,000, reduced (B) by the amount allowed under this section with respect to such individual for all prior taxable years. . (c) Pilot program To make periodic payments as college expenses incurred Section 25A(i) of such Code is amended by adding at the end the following: (8) Pilot program to make periodic payments as college expenses incurred (A) In general The Secretary of the Treasury and the Secretary of Education shall jointly establish a program designed to make payments periodically to or on behalf of an eligible student as the student incurs qualified expenses during the taxable year. The total amount that may be so paid to or on behalf of an eligible student through this program shall not exceed the credit which would (but for subparagraph (B)) be allowable under this section if subsection (d) were applied by using the taxpayer’s