HR-1151 : Still Just a Bill

---

The "Freedom to Invest in Tomorrow's Workforce Act," also known as H.R. 1151, seeks to amend the Internal Revenue Code of 1986 to expand the uses of 529 savings accounts.

• Currently, 529 accounts are primarily used for qualified higher education expenses.
• This bill proposes to include certain postsecondary credentialing expenses as qualified expenses.
• These expenses include:
  • Tuition, fees, books, and equipment for recognized postsecondary credential programs.
  • Fees for testing required to obtain or maintain a recognized postsecondary credential.
  • Fees for continuing education required to maintain a recognized postsecondary credential.
• A "recognized postsecondary credential program" is defined as a program included on a State list under the Workforce Innovation and Opportunity Act, listed in the WEAMS Public directory, or recognized by an organization that provides reputable credentials in the occupation.
• A "recognized postsecondary credential" includes industry-recognized employment credentials, certificates of completion of registered apprenticeships, occupational or professional licenses, and credentials defined in the Workforce Innovation and Opportunity Act.

The changes introduced by this bill would apply to distributions made after the date of enactment.

---

An error occured and we cannot provide a prediction at this time. Either Congress API has not provided a text file or subject list for this bill, or the bill text is too large to make a prediction.