S.379 - A bill to amend the Internal Revenue Code of 1986 to permit amounts paid for programs to obtain a recognized postsecondary credential or a license to be treated as qualified higher education expenses for purposes of a 529 account.116th Congress (2019-2020) |
|Sponsor:||Sen. Klobuchar, Amy [D-MN] (Introduced 02/07/2019)|
|Committees:||Senate - Finance|
|Latest Action:||Senate - 02/07/2019 Read twice and referred to the Committee on Finance. (All Actions)|
This bill has the status Introduced
Here are the steps for Status of Legislation:
- Passed Senate
- Passed House
- To President
- Became Law
Summary: S.379 — 116th Congress (2019-2020)All Information (Except Text)
Introduced in Senate (02/07/2019)
This bill allows tax-exempt distributions from qualified tuition programs (known as 529 plans) to be used for expenses required for programs to obtain a recognized postsecondary credential or occupational license.
A "recognized postsecondary credential" is a credential consisting of an industry-recognized certificate or certification, a certificate of completion of an apprenticeship, a license recognized by the state involved or federal government, or an associate or baccalaureate degree.