529 Account Apprenticeship Expenses
| Type | Bill |
|---|---|
| Session | 2022 Regular Session |
| Subjects |
Concerning the alignment of the state income tax deduction for contributions to a 529 account with the changes in the federal "Setting Every Community Up for Retirement Enhancement Act of 2019" that allows tax-free distributions for eligible apprenticeship programs.
Bill Summary:
The federal "Setting Every Community Up for Retirement Enhancement Act of 2019" expanded qualified distributions from a qualified state tuition program (529 account) to include expenses for fees, books, supplies, and equipment required for the participation of a designated beneficiary in certain apprenticeship programs.
In light of these changes to federal law, the act amends Colorado law to clarify what qualifies as a qualified distribution from a 529 account for the purpose of determining state taxable income. The act allows expenses for fees, books, supplies, and equipment required for the participation of a designated beneficiary in certain apprenticeship programs to be treated as such a qualified distribution.
(Note: This summary applies to this bill as enacted.)
Prime Sponsors
Representative
Colin Larson
Representative
Cathy Kipp
Senator
Jeff Bridges
Senator
Rob Woodward
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Related Documents & Information
| Activity | Vote | Documents |
|---|---|---|
| Refer House Bill 22-1310 to the Committee of the Whole and with a recommendation that it be placed on the consent calendar. | The motion passed on a vote of 7-0. | Vote summary |
| Activity | Vote | Documents |
|---|---|---|
| Refer House Bill 22-1310 to the Committee on Appropriations. | The motion passed on a vote of 4-0. | Vote summary |
| Activity | Vote | Documents |
|---|---|---|
| Refer House Bill 22-1310 to the Committee of the Whole. | The motion passed on a vote of 11-0. | Vote summary |
| Activity | Vote | Documents |
|---|---|---|
| Refer House Bill 22-1310 to the Committee on Appropriations. | The motion passed on a vote of 10-1. | Vote summary |
| Activity | Vote | Documents |
|---|---|---|
| Refer House Bill 22-1310 to the Committee on Finance. | The motion passed on a vote of 9-0. | Vote summary |
| Date | Calendar | Motion | Vote | Vote Document |
|---|---|---|---|---|
| 05/04/2022 | Third Reading | BILL |
34
AYE
0
NO
1
OTHER
|
Vote record |
| Date | Calendar | Motion | Vote | Vote Document |
|---|---|---|---|---|
| 04/25/2022 | Third Reading | BILL |
62
AYE
1
NO
2
OTHER
|
Vote record |
| Date | Amendment Number | Committee/ Floor Hearing | Status | Documents |
|---|---|---|---|---|
| 04/22/2022 | L.001 | Second Reading | Passed [**] |
| Date | Location | Action |
|---|---|---|
| 06/03/2022 | Governor | Governor Signed |
| 06/01/2022 | Governor | Sent to the Governor |
| 06/01/2022 | Senate | Signed by the President of the Senate |
| 06/01/2022 | House | Signed by the Speaker of the House |
| 05/04/2022 | Senate | Senate Third Reading Passed - No Amendments |
| 05/03/2022 | Senate | Senate Second Reading Special Order - Passed - No Amendments |
| 05/03/2022 | Senate | Senate Committee on Appropriations Refer Unamended - Consent Calendar to Senate Committee of the Whole |
| 04/27/2022 | Senate | Senate Committee on Finance Refer Unamended to Appropriations |
| 04/25/2022 | Senate | Introduced In Senate - Assigned to Finance |
| 04/25/2022 | House | House Third Reading Passed - No Amendments |
| 04/22/2022 | House | House Second Reading Special Order - Passed with Amendments - Floor |
| 04/21/2022 | House | House Second Reading Special Order - Laid Over Daily - No Amendments |
| 04/21/2022 | House | House Committee on Appropriations Refer Unamended to House Committee of the Whole |
| 04/14/2022 | House | House Committee on Finance Refer Unamended to Appropriations |
| 03/31/2022 | House | House Committee on Education Refer Unamended to Finance |
| 03/21/2022 | House | Introduced In House - Assigned to Education |
Prime Sponsor
Sponsor
Co-Sponsor
| Effective Date | Chapter # | Title | Documents |
|---|---|---|---|
| 01/01/2023 | 369 | 529 Account Apprenticeship Expenses |