529 Expansion and Modernization Act of 2018 2018-07-17 Introduced in Senate 529 Expansion and Modernization Act of 2018

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 2019) and must be made in connection with a payroll deduction contribution program.

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