Student Empowerment Act

Summary

Student Empowerment Act This bill expands the education-related expenses that may be paid for with tax-free distributions from a qualified tuition program (also known as a 529 plan) to include certain expenses related to elementary, secondary, and homeschool education. Under current law, distributions from a 529 plan are excluded from gross income if they are used to pay for qualified higher education expenses, which includes up to $10,000 (per year and per beneficiary) for tuition at an elementary or secondary public, private, or religious school. The bill expands the education-related expenses that may be paid for with tax-free distributions from a 529 plan to include tuition related to homeschooling and the following expenses related to elementary, secondary, and homeschool education: 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.

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Timeline

1. 20 January 2025

   Introduced

   Read twice and referred to the Committee on Finance.

   Source: IntroReferral

2. 20 January 2025

   Introduced

   Introduced in Senate

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

No version snapshots stored. Document URLs remain at the source.

Documents

2 official files

• Introduced in Senate

  Introduced in Senate · EN · 20 January 2025

  ViewDownloadOpen at official source

• Introduced in Senate

  summary · EN · 20 January 2025

  Open at official source

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Sponsors

• Sen. Cruz, Ted [R-TX] · R · Sponsor
• Sen. Lankford, James [R-OK] · R · Sponsor
• Sen. Scott, Tim [R-SC] · R · Sponsor
• Sen. Sheehy, Tim [R-MT] · R · Sponsor
• Sen. Curtis, John R. [R-UT] · R · Sponsor
• Sen. Johnson, Ron [R-WI] · R · Sponsor
• Sen. Rounds, Mike [R-SD] · R · Sponsor
• Sen. Schmitt, Eric [R-MO] · R · Sponsor
• Sen. Scott, Rick [R-FL] · R · Sponsor
• · ssfi00 · Standing

Related records

• related to → TCJA Permanency Act
• related to → An act to provide for reconciliation pursuant to title II of H. Con. Res. 14.
• related to ← ACE Act
• related to ← ACE Act
• related to ← Student Empowerment Act