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HR 8128 United States House · 117th Congress

To amend the Internal Revenue Code of 1986 to expand the uses for funds under qualified tuition programs, and for other purposes.

Summary
This bill expands the uses of qualified tuition program (529 plans) funds to include payment of costs related to industry recognized apprenticeship programs. It also provides for payment of expenses related to a career and technical education program or a career pathway. The bill increases from 1.4% to 1.6% the rate of the excise tax on the investment income of certain private colleges and universities.
Issues: ✓ Budget & TaxesSupports Budget & TaxesIncreases excise tax on private colleges from 1.4% to 1.6%, strengthening tax revenue collection for government fiscal management.95% confidence ✓ EducationSupports EducationExpands 529 plan uses to cover apprenticeships and career tech programs, enhancing educational access and pathways beyond traditional higher education.90% confidence
Bill status in committee 1 of 4 stages cleared
Introduction
Jun 2022
Committee Review
Floor Vote
President
Introduced Jun 16, 2022 Last action Jun 16, 2022
Floor votes

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Full legislative history

Actions timeline

Total actions
2
Key actions
0
Committee
1
Jun 16, 2022
Committee
Referred to the House Committee on Ways and Means.
lower
Jun 16, 2022
Introduced
Introduced in House
lower
1 primary · 0 co-sponsors

Sponsors

Role
Legislator
Party
State
District
P
Photo of Lloyd Smucker
Lloyd Smucker
RRepublican
PA
11