A bill to amend the Internal Revenue Code of 1986 to permit kindergarten through grade 12 educational expenses to be paid from a 529 account during the Coronavirus Emergency Period.
About This Bill
Committee
Latest Action · June 11, 2020
Read twice and referred to the Committee on Finance. (Sponsor introductory remarks on measure: CR S2936)
Helping Parents Educate Children During the Coronavirus Pandemic
This bill expands the types of educational expenses that may be paid from a qualified tuition program (commonly known as a 529 plan) for students enrolled at or attending an elementary or secondary public, private, or religious school. It also permits payments of certain education expenses for home schooling during the COVID-19 (i.e., coronavirus disease 2019) emergency period beginning on March 13, 2020, and ending on the date the emergency period has ended.
The bill also permits penalty free distributions from tax-preferred retirement plans for the period after February 29, 2020, and before January 1, 2021, if contributed to a 529 plan.
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