A bill to amend the Internal Revenue Code of 1986 to provide for distributions from 529 programs to pay apprenticeship and qualified early education expenses, and for other purposes.
About This Bill
Committee
Latest Action · January 24, 2019
Read twice and referred to the Committee on Finance.
529 Expansion and Modernization Act of 2019
This bill allows tax-exempt distributions from qualified tuition programs (known as 529 plans) to be used for
apprenticeship programs, early education expenses for children under the age of 5, career and technical education programs, and industry intermediary education programs. The bill also allows employers to make contributions to an employee's 529 plan as a fringe benefit that is excluded from the gross income of the employee. The contributions per employee may not exceed $500 per year (adjusted for inflation after 2020) and must be made in connection with a payroll deduction contribution program.
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