New 529 Account Rules for Vocational Training and Certifications
This act expands how 529 savings accounts can be used. Now, funds can cover not only traditional college expenses but also costs related to vocational certification programs and training that help acquire new job skills. This allows more people to invest in their professional development while benefiting from tax advantages.
Key points
You can use 529 account funds for tuition, fees, books, and equipment for recognized postsecondary credential programs.
It also covers testing fees and continuing education required to obtain or maintain professional credentials.
The changes apply to distributions made after the act's enactment, providing immediate benefits for savers.
Status:
Introduced
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