On Tuesday, April 28, FSI sent a letter to the Senate supporting S. 335. This bill is the Senate companion to H.R. 529 which we supported earlier this year and was passed in the House on February 25. The Senate Finance Committee is slated to mark up S. 335 on Wednesday, April 29.
Both S. 335 and H.R. 529 would make the following changes to the 529 College Savings Accounts:
- Clarify that funds can be used to purchase computers;
- Remove distribution aggregation requirements; and
- Permit the re-deposit of refunds from colleges without taxes or penalties in certain circumstances when a student withdraws from school.
To read the letter from FSI, click here.