H.R.3395 - 529 OPTIONS Act115th Congress (2017-2018)
|Sponsor:||Rep. Meehan, Patrick [R-PA-7] (Introduced 07/25/2017)|
|Committees:||House - Ways and Means|
|Latest Action:||House - 05/07/2018 ASSUMING FIRST SPONSORSHIP - Mr. Norcross asked unanimous consent that he may hereafter be considered as the first sponsor of H.R. 3395, a bill originally introduced by former Representative Meehan, for purposes of adding cosponsors and requesting reprintings pursuant to clause 7 of rule XII. Agreed to without objection. (All Actions)|
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Summary: H.R.3395 — 115th Congress (2017-2018)All Information (Except Text)
Introduced in House (07/25/2017)
529 Opening Paths To Invest in Our Nation's Students Act or the 529 OPTIONS Act
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.
The bill expands the definition of "qualified higher education expenses" for which tax-free distributions are allowed to include: (1) 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; (2) child care at a licensed day care center, and transportation, in connection with such enrollment or attendance; and (3) costs associated with obtaining an industry certification or other credential in connection with an apprenticeship program.