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119-hr-808119th CongressWALLET
Fairness for the Trades Act
Sponsored By: Representative Perez, Marie Gluesenkamp [D-WA-3]
Introduced
Summary
Would expand 529 college savings plans so beneficiaries can use account funds for certain business trade training costs and for tools or other tangible property used in listed trades. The bill adds a new category called qualified post business trade expenses and defines which tangible property and trade fields qualify.
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Bill Overview
Analyzed Economic Effects
1 provisions identified: 1 benefits, 0 costs, 0 mixed.
Use 529 plan money for trade equipment
If enacted, you would be able to use 529 plan money to buy business equipment for a beneficiary in certain trades. The item must be tangible, depreciable property and not a building. The beneficiary must have paid for the expense. The trade must match one of the NAICS codes listed in the bill. This would apply to expenses paid in tax years starting after the law is enacted.
Sponsors & CoSponsors
Sponsor
Perez, Marie Gluesenkamp [D-WA-3]
WA • D
Cosponsors
Rep. Edwards, Chuck [R-NC-11]
NC • R
Sponsored 1/28/2025
Rep. Bresnahan, Robert P. [R-PA-8]
PA • R
Sponsored 4/14/2025
Rep. Moore, Riley M. [R-WV-2]
WV • R
Sponsored 2/3/2026
Roll Call Votes
No roll call votes available for this bill.
View on Congress.gov