Summary: S.220 — 116th Congress (2019-2020)All Information (Except Text)

There is one summary for S.220. Bill summaries are authored by CRS.

Shown Here:
Introduced in Senate (01/24/2019)

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.