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Expanding Tax Benefits for Career Training with 529 Accounts

This act allows funds from 529 education savings accounts to be used for vocational training and certifications. This means citizens can now save for future career qualifications with the same tax benefits as for traditional higher education. It makes financing career development and acquiring new skills more accessible.
Key points
529 accounts, previously mainly for college, can now cover costs of career training and certifications.
This includes tuition, fees, supplies, and costs for exams and maintaining recognized professional credentials.
Changes apply to expenses paid or incurred in taxable years beginning after the act's enactment date.
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Additional Information
Print number: 117_HR_2171
Sponsor: Rep. Spanberger, Abigail Davis [D-VA-7]
Process start date: 2021-03-23
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Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Freedom To Invest in Tomorrow's Workforce Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 117_HR_2171.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2021-03-23.

What are the main provisions?

Key points include:

  • 529 accounts, previously mainly for college, can now cover costs of career training and certifications.
  • This includes tuition, fees, supplies, and costs for exams and maintaining recognized professional credentials.
  • Changes apply to expenses paid or incurred in taxable years beginning after the act's enactment date.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. Spanberger, Abigail Davis [D-VA-7].

What is the latest detailed status?

The latest detailed status is: Referred to the House Committee on Ways and Means.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-27.

CATEGORIES

Taxes Education Labor