Transportation Expenses for Education
Official: To amend the Internal Revenue Code of 1986 to permit qualified distributions from section 529 plans for certain transportation and parking expenses.
This bill lets families use money from education savings plans to pay for transportation and parking costs related to school. It aims to ease the financial burden on students and their families.
1. This bill allows families to use education savings plans for transportation costs. 2. Students can cover reasonable parking and travel expenses to eligible schools. 3. The bill also includes transportation costs for apprenticeship programs. 4. These changes apply to distributions made after the bill is enacted. 5. The bill updates the tax code to reflect these new eligible expenses.
Families with children attending college or apprenticeship programs.