In action of interest to colleges and universities, the House passed by a 401-20 vote H.R. 529, which would expand Section 529 plans. The bill would allow computers and peripheral equipment and software to be an allowed expense, eliminate the distribution aggregation requirement, and allow for the re-contribution without taxes or penalties of amounts refunded from a school.
The White House stated it is not opposed to the bill, although it would prefer one that does more to benefit middle-income households and improve college access and affordability. The press reports that it is unclear when the Senate will act on the bill.