HR 8128
To amend the Internal Revenue Code of 1986 to expand the uses for funds under qualified tuition programs, and for other purposes.
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Sign in to take action- Introduced
- Passed House
- Passed Senate
- To President
- Became Law
Bill overview
This bill changes how funds can be used within qualified tuition programs (like 529 plans). It expands the allowable uses to include funding for industry-recognized apprenticeship programs and expenses related to career and technical education or career pathways. Additionally, the bill increases the excise tax rate on the investment income of certain private colleges and universities from 1.4% to 1.6%. Finally, it clarifies that private colleges not receiving federal aid are exempt from the excise tax.
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