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Student Empowerment Act

12/15/2023, 4:05 PM

Congressional Summary of S 57

Student Empowerment Act

This bill allows tax-exempt distributions from qualified tuition programs (known as 529 plans) to be used for additional educational expenses in connection with enrollment or attendance at an elementary or secondary school.

(Under current law, distributions in connection with an elementary or secondary school are limited to tuition for a public, private, or religious school.) The bill allows the distributions to be used for additional educational expenses, including

  • curriculum and curricular materials,
  • books or other instructional materials,
  • online educational materials,
  • tutoring or educational classes outside the home,
  • testing fees,
  • fees for dual enrollment in an institution of higher education, and
  • educational therapies for students with disabilities.

Distributions may also be used for tuition and the purposes above in connection with a homeschool (whether treated as a homeschool or a private school under state law).

Current Status of Bill S 57

Bill S 57 is currently in the status of Bill Introduced since January 24, 2023. Bill S 57 was introduced during Congress 118 and was introduced to the Senate on January 24, 2023.  Bill S 57's most recent activity was Read twice and referred to the Committee on Finance. as of January 24, 2023

Bipartisan Support of Bill S 57

Total Number of Sponsors
1
Democrat Sponsors
0
Republican Sponsors
1
Unaffiliated Sponsors
0
Total Number of Cosponsors
0
Democrat Cosponsors
0
Republican Cosponsors
0
Unaffiliated Cosponsors
0

Policy Area and Potential Impact of Bill S 57

Primary Policy Focus

Taxation

Potential Impact Areas

- Academic performance and assessments
- Bank accounts, deposits, capital
- Elementary and secondary education
- Higher education
- Income tax exclusion
- Special education
- Student aid and college costs
- Teaching, teachers, curricula

Alternate Title(s) of Bill S 57

Student Empowerment Act
Student Empowerment Act
A bill to amend the Internal Revenue Code of 1986 to permit kindergarten through grade 12 educational expenses to be paid from a 529 account.

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