115th CONGRESS 1st Session |
To amend the Internal Revenue Code of 1986 to allow for distributions from 529 accounts for expenses associated with registered apprenticeship programs.
December 12, 2017
Mr. Daines (for himself, Mr. Booker, Ms. Murkowski, and Ms. Warren) introduced the following bill; which was read twice and referred to the Committee on Finance
To amend the Internal Revenue Code of 1986 to allow for distributions from 529 accounts for expenses associated with registered apprenticeship programs.
Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,
SECTION 1. Distributions from 529s for registered apprenticeship programs.
(a) In general.—Section 529(e)(3) of the Internal Revenue Code of 1986 is amended by adding at the end the following new subparagraph:
“(C) CERTAIN EXPENSES ASSOCIATED WITH REGISTERED APPRENTICESHIP PROGRAMS.—The term ‘qualified higher education expenses’ shall include books, supplies, and equipment required for the enrollment or attendance of a designated beneficiary in an apprenticeship program registered and certified with the Secretary of Labor under section 1 of the National Apprenticeship Act (29 U.S.C. 50).”.
(b) Effective date.—The amendment made by this section shall apply to contributions made and distributions paid after December 31, 2017.