To amend the Internal Revenue Code of 1986 to treat certain postsecondary credentialing expenses as qualified higher education expenses for purposes of 529 accounts.
Freedom to Invest in Tomorrow’s Workforce Act
This bill expands the expenses eligible for tax-free withdrawals from a qualified tuition program (known as a 529 plan) to include tuition, fees (including test fees), books, supplies, equipment, and other expenses related to the enrollment or attendance in a recognized postsecondary credentialing program.
Under the bill, a recognized postsecondary credentialing program includes certain programs identified by a state as providing training services, a program listed in the Web Enabled Approval Management System (WEAMS) maintained by the Department of Veterans Affairs, certain examinations required to obtain or maintain a credential, and other reputable credentialing programs.
Further, under the bill, such programs must be designed for an individual to obtain
Read twice and referred to the Committee on Finance.
Became Public Law No: 119-21.
Introduced in House
Introduced in House
Referred to the House Committee on Ways and Means.
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