S. 220 · 116th Congress
529 Expansion and Modernization Act of 2019
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Never voted on. It didn't reach a floor vote before the 116th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
R
GardnerSponsorNo cosponsors.
This bill allows tax-exempt distributions from qualified tuition programs (known as 529 plans) to be used for
What it does: CRS summary · Introduced in Senate · Jan 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.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: 529 Expansion and Modernization Act of 2019
Latest action (Jan 24, 2019): Read twice and referred to the Committee on Finance.
Policy area: Taxation · Origin: Senate · Introduced: Jan 24, 2019
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.