Jun 02, 2019
New Legislation Could Assist Apprenticeship Funding
At the end of May, U.S. Senator Steve Daines (R-MT) introduced legislation that would allow skilled workers enrolled in a registered apprenticeship program to access the same tax advantaged savings account that those attending colleges and universities receive under Section 529 of the IRS Code. The bipartisan bill, S.1623, is cosponsored by U.S. Senators Warren, Booker and Murkowski.
“We applaud Senator Daines for introducing legislation to ensure registered skilled trade apprentices may use 529 plans for life sustaining costs like housing, transportation and certifications associated with successful completion of a registered apprenticeship program,” said Sean McGarvey, President of North America’s Building Trades Unions. “This bill rightly recognizes our high-quality registered education system is worthy of higher education funding options, as our registered programs provide the most advanced skilled trades training for family-sustaining careers in the building and construction industry.”
To read the full bill text, click here.