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529 Expansion and Modernization Act of 2019

USA116th CongressS-220| Senate 
| Updated: 1/24/2019
Cory Gardner

Cory Gardner

Republican Senator

Colorado

Finance Committee

  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
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.
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Timeline
Jan 24, 2019
Introduced in Senate
Jan 24, 2019
Read twice and referred to the Committee on Finance.
  • January 24, 2019
    Introduced in Senate


  • January 24, 2019
    Read twice and referred to the Committee on Finance.

Taxation

Bank accounts, deposits, capitalEmployee benefits and pensionsEmployment and training programsIncome tax deferralIncome tax exclusionInflation and pricesPreschool educationStudent aid and college costsVocational and technical educationWages and earnings

529 Expansion and Modernization Act of 2019

USA116th CongressS-220| Senate 
| Updated: 1/24/2019
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.
View Full Text

Suggested Questions

Get AI-generated questions to help you understand this bill better

Timeline
Jan 24, 2019
Introduced in Senate
Jan 24, 2019
Read twice and referred to the Committee on Finance.
  • January 24, 2019
    Introduced in Senate


  • January 24, 2019
    Read twice and referred to the Committee on Finance.
Cory Gardner

Cory Gardner

Republican Senator

Colorado

Finance Committee

Taxation

  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
Bank accounts, deposits, capitalEmployee benefits and pensionsEmployment and training programsIncome tax deferralIncome tax exclusionInflation and pricesPreschool educationStudent aid and college costsVocational and technical educationWages and earnings