S. 220
Referred to Committee529 Expansion and Modernization Act of 2019
Latest Action
Read twice and referred to the Committee on Finance.
1/24/2019 • Senate
Summary
529 Expansion and Modernization Act of 2019
This bill allows tax-exempt distributions from qualified tuition programs (known as 529 plans) to be used for
- apprenticeship programs,
- early education expenses for children under the age of 5,
- career and technical education programs, and
- industry intermediary education programs.
The bill also allows employers to make contributions to an employee's 529 plan as a fringe benefit that is excluded from the gross income of the employee. The contributions per employee may not exceed $500 per year (adjusted for inflation after 2020) and must be made in connection with a payroll deduction contribution program.
Introduced in Senate • 1/24/2019
Topics & Subjects
Congressional Votes (0)
No recorded votes yet
Roll call votes will appear here as the bill moves through Congress
Related Federal Spending
Sponsor & Cosponsors (1)
Sponsor
No cosponsors yet
Cosponsors may be added as the bill moves through Congress
Bill Journey
Originated in the Senate
Introduced
January 24, 2019
Read twice and referred to the Committee on Finance.
Committee Review
Floor Debate
Passed Chamber
Other Chamber
President
Enacted into Law