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Easier Funding for Career Training from 529 Accounts

This new law allows funds from 529 education savings accounts to cover costs associated with career training and obtaining professional certifications. This makes it easier for citizens to invest in developing their skills and qualifications, potentially improving their job prospects. These changes apply to expenses paid in taxable years beginning after the act's enactment date.
Key points
Expands the use of 529 accounts to include fees for career training programs and professional certifications.
Covers tuition, fees, books, and testing costs for recognized postsecondary credentials.
Facilitates financing career development beyond traditional higher education.
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Additional Information
Freedom To Invest in Tomorrow's Workforce Act
Print number: HR 1477
Sponsor: Rep. Wittman, Robert J. [R-VA-1]
Process start date: 2023-03-08