Sec. 11033. 529 account funding for elementary and secondary education
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Section 529(c) is amended by adding at the end the following new paragraph: Any reference in this subsection to the term qualified higher education expense shall include a reference to— expenses for tuition in connection with enrollment or attendance at an elementary or secondary public, private, or religious school, and expenses for— curriculum and curricular materials, books or other instructional materials, online educational materials, tuition for tutoring or educational classes outside of the home (but only if the tutor or instructor is not related to the student), dual enrollment in an institution of higher education, and educational therapies for students with disabilities, in connection with a homeschool (whether treated as a homeschool or a private school for purposes of applicable State law). .
Section 529(e)(3)(A) is amended by adding at the end the following: The amount of cash distributions from all qualified tuition programs described in subsection (b)(1)(A)(ii) with respect to a beneficiary during any taxable year shall, in the aggregate, include not more than $10,000 in expenses described in subsection (c)(7) incurred during the taxable year. . The amendments made by subsection
(a)shall apply to contributions made after December 31, 2017. Section 401(k) is amended by adding at the end the following: For purposes of paragraph (2)(B)(i)(IV)— The following amounts may be distributed upon hardship of the employee: Contributions to a profit-sharing or stock bonus plan to which section 402(e)(3) applies. Qualified nonelective contributions (as defined in subsection (m)(4)(C)). Qualified matching contributions described in paragraph (3)(D)(ii)(I). Earnings on any contributions described in clause (i), (ii), or (iii). A distribution shall not be treated as failing to be made upon the hardship of an employee solely because the employee does not take any available loan under the plan.”. . Section 401(k)(2)(B)(i)(IV) is amended to read as follows: subject to the provisions of paragraph (14), upon hardship of the employee, or”. . The amendments made by this subsection shall apply to plan years beginning after December 31, 2017.