OPENING THE RECORD
OPENING THE RECORD
H.R. 1151 · 119TH CONGRESS
This has not become law. Both chambers must pass the same text before sending it to the president. How a bill becomes law.
CONGRESSIONAL RESEARCH SERVICE
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
• an industry-recognized postsecondary employment credential (e.g., project management professional certificate, advanced emergency medical technician certificate, and welding supervisor certificate),
• a certificate of completion of a registered and certified apprenticeship,
• an occupational or professional license issued or recognized by a state or the federal government (and any certification required for obtaining such license), or
• an associate or baccalaureate degree.
Written by the Congressional Research Service for this version of the bill. Later versions may differ. Read at Congress.gov.