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NY A01477
Bill
Status
1/10/2025
Primary Sponsor
Matthew Slater
Click for details
AI Summary
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Expands qualified withdrawals from New York's family tuition savings accounts (529 plans) to include funding treatment for substance use disorder for the designated beneficiary
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Covers detoxification and rehabilitation services as eligible expenses under the expanded withdrawal definition
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Requires treatment to consist of at least fifteen hours and include classroom instruction in areas deemed suitable by the Commissioner of Education
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Maintains existing 60-day notice requirement for withdrawals, or shorter periods as authorized under program rules
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Amends Section 695-e of the Education Law and takes effect immediately upon passage
Legislative Description
Allows withdrawals from family tuition accounts to pay for treatment of substance use disorder, including detoxification and rehabilitation for the designated beneficiary.
Last Action
referred to higher education
1/7/2026