Us Congress 2023-2024 Regular Session

Us Congress House Bill HB329

Introduced
1/12/23  

Caption

American Workforce Empowerment Act This bill allows tax-preferred college savings plans (529 plans) to fund certain postsecondary certificate programs and apprenticeship programs.

Impact

If enacted, HB329 would lead to significant changes in the funding of vocational education. It would allow families to utilize the tax-advantaged 529 plans for specific expenses tied to apprenticeship training and recognized postsecondary certificates. This change is expected to create more opportunities for individuals who might opt for technical education instead of traditional four-year college degrees, aligning educational pathways with workforce needs. It could prove particularly beneficial in addressing skills gaps in the labor market, promoting economic growth in technical sectors.

Summary

House Bill 329, known as the American Workforce Empowerment Act, seeks to amend the Internal Revenue Code to extend the use of 529 education savings plans to cover expenses related to non-degree technical training certificate programs and registered apprenticeship programs. The bill aims to provide financial flexibility for students pursuing vocational training and equipping them with skills necessary for employment in various industries. By broadening the scope of eligible expenses under 529 plans, it encourages individuals to explore technical careers that are often in high demand.

Contention

While the bill has garnered support for enhancing access to education and addressing workforce shortages, there are concerns regarding its potential limitations. Critics may argue that reliance on 529 plans for funding technical training could inadvertently prioritize certain educational pathways over others, creating disparities. Moreover, there may be apprehensions about ensuring that the programs funded through these accounts maintain high standards and effectively prepare students for employment. Stakeholders will need to consider how to balance accessibility with the quality of training provided.

Companion Bills

US SB2921

Related bill American Workforce Empowerment Act

Previously Filed As

US SB2921

American Workforce Empowerment Act

US HB3786

Apprenticeships to College Act

US HB66

Native American Education Opportunity Act This bill addresses education savings account programs and charter schools for tribal students. Specifically, the bill requires the Department of Education and the Department of the Interior, at the request of federally recognized Indian tribes, to provide funds to tribes for tribal-based education savings account programs. Tribes must use these funds to award grants to education savings accounts for students who (1) attended or will be eligible to attend a school operated by the Bureau of Indian Education (BIE); or (2) will not be attending a school operated by the BIE, receiving an education savings account from another tribe, or attending public elementary or secondary school while participating in the program. Funds may be used for items and activities such as costs of attendance at private schools, private tutoring and online learning programs, textbooks, educational software, or examination fees. The Government Accountability Office must review the implementation of these education savings account programs, including any factors impacting increased participation in such programs. Additionally, the bill authorizes the BIE to approve and fund charter schools at any school that it operates or funds.

US HB2900

Apprenticeship Hubs Across America Act of 2023

US SB343

Apprenticeships to College Act

US HB221

Professional Pell Education Learning Act or the PROPEL Act This bill expands student eligibility for Pell Grants by allowing students to use these grants for enrollment in educational programs that consist of vocational or technical training, flight training, apprenticeship, or other on-job training. In addition, the bill expands institutional eligibility under the Federal Pell Grant program, including by allowing these vocational and training programs to be unaccredited.

US SB56

Education Freedom Scholarships and Opportunity Act This bill allows individual and corporate taxpayers a tax credit for cash contributions to certain scholarship-granting and workforce training organizations. It imposes a cap of $10 billion on the sum of contributions that qualify for a tax credit under this bill. The bill requires the Department of Education, in coordination with the Departments of the Treasury and Labor, to establish, host, and maintain a web portal that (1) lists all eligible scholarship-granting and workforce training organizations; (2) enables contributions to such organizations; (3) provides information about the benefits of this bill; and (4) enables a state to submit and update information about its programs and educational organizations, including information on student eligibility and allowable educational expenses.

US HB3179

Supporting Apprenticeship Colleges Act of 2023

US HB511

American Apprenticeship Act

US HB452

Education Savings Accounts for Military Families Act of 2023 This bill directs the Department of Education (ED) to establish a program to provide children with parents on active duty in the uniformed services with funds to pay educational expenses. Specifically, ED must establish a tax-exempt Military Education Savings Account for dependent children of parents in the uniformed services for the payment of the children's educational expenses. Funds in the savings account may be used for specified purposes, including the cost of attendance at a private elementary or secondary school or institution of higher education, private tutoring, or costs associated with an apprenticeship or other vocational training program.

Similar Bills

No similar bills found.