H.R. 3395, the 529 Opening Paths To Invest In Our Nation's Students (OPTIONS) Act, sponsored by Rep. Pat Meehan (R-PA) and Rep. Donald Norcross (D-NJ).
Current law allows the use of 529 plans to cover certain equipment purchases related to vocational school expenses. These purchases can be equated to the computers and books that are so often associated with higher-education learning and are known as "peripheral expenditures" under current IRS code. U.S. Department of Labor-approved trade schools typically require apprentices to purchase tools, equipment, and other materials needed to safely and effectively learn their trade. However, construction apprentices indentured in a traditional apprenticeship program do not have access to these funds to help offset these costs. Much like a computer or activity fees for a college student, an apprentice needs steel-toed boots or hand tools to succeed in the vocation they have sought to pursue. H.R. 3395 would allow construction apprentices to use 529 plans to cover these costs.
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Download NECA's position paper on 529 Plans