What is the official ID of this bill?
The official print number for this legislation is HR 8915.
Expanded 529 Accounts: K-12, Homeschooling, and Career Certification Expenses.
This law broadens the tax-advantaged use of 529 education savings accounts. Citizens can now make tax-free withdrawals for a wider range of K-12 expenses, including tuition, materials, and tutoring, as well as costs associated with obtaining professional licenses and career certifications. This change provides families with greater flexibility in using their education savings for both traditional schooling and workforce development.
Key points
529 funds can now cover tuition, materials, tutoring, and educational therapies for elementary and secondary school students (K-12).
The expansion includes expenses related to homeschooling and fees for standardized tests and college admission exams.
Tax-free withdrawals are permitted for costs associated with obtaining or maintaining recognized professional certifications, state/federal licenses, and registered apprenticeship programs.
Status:
Expired
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