IAEM has endorsed the bipartisan, bicameral Freedom to Invest in Tomorrow's Workforce Act (H.R. 1477/S. 722). The bill would expand eligible uses of tax-favorable "529" savings plans to cover costs associated with workforce training and credentialing programs. The legislation would also enable 529 plan beneficiaries to use their funds to pay for examinations necessary to obtain and maintain recognized private professional certifications and other credentials. Now, only costs related to attending colleges, universities, vocational schools, registered apprenticeship programs, K-12 private tuition or other post-secondary institutions are eligible 529 expenses.
If enacted, this bill would be an amazing shift for those with 529 plans as well as an ability to direct those resources to post-secondary certification programs like CEM.
Click here to see a fact sheet with information about the bill.
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Thad Huguley
Government Affairs Director
IAEM
Falls Church VA
(615) 870-9316
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