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AZ HB2477
Bill
Status
Engrossed
2/26/2026
Primary Sponsor
David Livingston
Click for details
AI Summary
- Expands qualified withdrawal limits for elementary and secondary school tuition from $10,000 to $20,000 in aggregate per designated beneficiary
- Allows account transfers to Roth IRAs if the 529 account has been maintained for at least 15 years, with contributions made at least 5 years before transfer, subject to a $35,000 lifetime cap
- Removes the December 31, 2025 deadline for rollovers to ABLE Act accounts (26 USC 529A), making such transfers permanently available
- Simplifies statutory definitions by incorporating federal Internal Revenue Code section 529 definitions for "member of the family" and "qualified higher education expenses" by reference
- Removes contributor information requirements from account applications, requiring only account owner and beneficiary information
Legislative Description
Arizona's education savings plan; revisions
Revisions
Last Action
Senate FIN Committee action: Do Pass, voting: (5-2-0-0)
3/16/2026
Committee Referrals
Rules3/9/2026
Finance2/26/2026
Rules1/21/2026
Ways and Means1/21/2026
Full Bill Text
No bill text available