The Student Empowerment Act would amend federal tax rules to let people use 529 account funds for more kindergarten-through-grade-12 education costs. Eligible expenses would include tuition, learning materials, qualifying tutoring, certain tests, dual-enrollment fees, and some therapies for students with disabilities. The bill also applies these expense categories to homeschooling. The changes would apply to distributions made after the Act’s enactment. The bill was introduced and referred to the Senate Finance Committee.
If enacted, the bill would allow 529 account funds to cover the listed expenses for students attending public, private, or religious schools, and for homeschool students. Tutoring would need to meet specific requirements, including that the tutor is not related to the student. The bill has not been enacted.
No publicly available information about the bill’s costs or its effect on account holders’ expenses.
No publicly available information.
No publicly available information.