H.R. 529 changed and re-introduced in Congress
H.R. 529 has been re-introduced in Congress by Rep. Lynn Jenkins (R-KS) but consists of only two of the changes that were included in the bill introduced in the prior Congress.
H.R. 529 would provide an expansion of the Saver's Credit to include contributions to 529 plans, and it would allow employers to make up to $600 per year intax-free contributions to the 529 account of each eligible employee.
A separate bill will be introduced to increase the number of investment changes from once to four times in a year, and to expand the definition of qualified higher education expenses to include computers and computer technology.
Presumably, the second bill has a better chance of adoption even if H.R. 529 is not passed, since its tax revenue impact is modest.
Return to 529 News centerH.R. 529 would provide an expansion of the Saver's Credit to include contributions to 529 plans, and it would allow employers to make up to $600 per year intax-free contributions to the 529 account of each eligible employee.
A separate bill will be introduced to increase the number of investment changes from once to four times in a year, and to expand the definition of qualified higher education expenses to include computers and computer technology.
Presumably, the second bill has a better chance of adoption even if H.R. 529 is not passed, since its tax revenue impact is modest.