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MI SB0368
Bill
AI Summary
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Expands the definition of "qualified higher education expenses" under the Michigan Education Savings Program (529 plan) to include tuition for elementary and secondary education at public, private, or religious schools
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Aligns state law with federal Internal Revenue Code section 529(c)(7), which already permits K-12 tuition withdrawals from 529 accounts without federal penalty
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Allows Michigan 529 account holders to make penalty-free, tax-free withdrawals for K-12 tuition expenses in addition to existing qualified expenses like college costs, apprenticeship programs, and education loan payments
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Amends the Michigan Education Savings Program Act (2000 PA 161) by modifying section 2 definitions
Legislative Description
Education: other; definition of qualified higher education expenses under Michigan education savings program; expand to include certain K-12 tuition expenses. Amends sec. 2 of 2000 PA 161 (MCL 390.1472).
Higher education: financial aid
Last Action
Referred To Committee On Education
6/11/2025