A bill to amend the Internal Revenue Code of 1986 to allow for distributions from 529 accounts for expenses associated with registered apprenticeship programs.

Bill: 115-s-2222
Sponsor: full_name: Sen. Daines, Steve [R-MT]
Introduced: 2017-12-12
Policy area: Taxation
Subjects: Bank accounts, deposits, capital

Employment and training programs

Financial services and investments

Higher education

Income tax exclusion

Student aid and college costs
Latest action: action_date: 2017-12-12
text: Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S7976)

Summaries:
action_date: 2017-12-12
action_desc: Introduced in Senate
text: <p>This bill amends the Internal Revenue Code to allow distributions from qualified tuition programs (known as 529 plans) to be used for certain expenses associated with registered apprenticeship programs. </p> <p>The bill expands the definition of &quot;qualified higher education expenses&quot; for which tax-free distributions are allowed to include books, supplies, and equipment required for the enrollment or attendance of a designated beneficiary in an apprenticeship program registered and certified with the Department of Labor. </p>

tv_txt: II 115th CONGRESS 1st Session S. 2222 IN THE SENATE OF THE UNITED STATES December 12, 2017 Mr. Daines (for himself, Mr. Booker , Ms. Murkowski , and Ms. Warren ) introduced the following bill; which was read twice and referred to the Committee on Finance A BILL To amend the Internal Revenue Code of 1986 to allow for distributions from 529 accounts for expenses associated with registered apprenticeship programs.

1. Distributions from 529s for registered apprenticeship programs (a) In general Section 529(e)(3) of the Internal Revenue Code of 1986 is amended by adding at the end the following new subparagraph: (C) Certain expenses associated with registered apprenticeship programs The term qualified higher education expenses shall include books, supplies, and equipment required for the enrollment or attendance of a designated beneficiary in an apprenticeship program registered and certified with the Secretary of Labor under section 1 of the National Apprenticeship Act ( 29 U.S.C. 50 ). . (b) Effective date The amendment made by this section shall apply to contributions made and distributions paid after December 31, 2017.