Only the right has signed this so far (Bill Ranking)
H.R. 808 · 119th Congress (2025-2026)
4 members · Left 0 · Center 1 · Right 3 (Bill Ranking)
| Sponsor | Rep. Perez, Marie Gluesenkamp (D-WA) (Introduced 01/28/2025) |
|---|---|
| Sponsor Voting Record | Center · DW-NOMINATE -0.10 · measured from every roll-call vote this member has cast (voteview.com) (Sponsor Ranking) |
| Support |
LLLCLRR support across the spectrum: 4 members signed on (Bill Ranking) this bill: sponsor + current cosponsors, each once |
| Committees | House - Ways and Means Committee |
| Latest Action | 01/28/2025 Referred to the House Committee on Ways and Means. |
| Roll Call Votes | There have been no roll call votes |
| Source | view on congress.gov → |
Introduced in House (01/28/2025)
Fairness for the Trades Act
This bill expands the expenses that may be paid for with tax-free distributions from a qualified tuition program (known as a 529 plan) to include those incurred to purchase business property in certain industries. (Some limitations apply.)
Under the bill, tax-free 529 plan distributions may be used to pay for certain property for use by the plan beneficiary in industries within the following industry groups (as classified in the North American Industry Classification System):
119 HR 808 IH: Fairness for the Trades Act U.S. House of Representatives 2025-01-28 text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. I119th CONGRESS1st SessionH. R. 808IN THE HOUSE OF REPRESENTATIVESJanuary 28, 2025Ms. Perez (for herself and Mr. Edwards) introduced the following bill; which was referred to the Committee on Ways and MeansA BILLTo amend the Internal Revenue Code of 1986 to permit qualified business trade expenses to be treated as qualified higher education expenses for purposes of 529 accounts.1.Short titleThis Act may be cited as the Fairness for the Trades Act.
2.Qualified business trade expenses treated as qualified higher education expenses for purposes of 529 accounts(a)In generalSection 529(e)(3) of the Internal Revenue Code of 1986 is amended by adding at the end the following new subparagraph:(C)Qualified business trade expensesThe term qualified higher education expenses includes qualified business trade expenses (as defined in subsection (f))..(b)Qualified business trade expensesSection 529 is amended by redesignating subsection (f) as subsection (g) and by inserting after subsection (e) the following new subsection:(f)Qualified business trade expensesFor purposes of this section—(1)In generalThe term qualified post business trade expenses means amounts paid by the designated beneficiary for specified business property used by the designated beneficiary in a qualified trade field.(2)Specified business propertyThe term specified business property means tangible property (other than buildings) which is of a character subject to the allowance for depreciation.(3)Qualified trade fieldThe term qualified trade field means any field which is described by one of the following National industry codes of the North American Industry Classification System: 113110, 113210, 113310, 114111, 114112, 114119, 114210, 115310, 236115, 236116, 236117, 236118, 236210, 236220, 237110, 237120, 237130, 237210, 237310, 237990, 238110, 238120, 238130, 238140, 238150, 238160, 238170, 238190, 238210, 238220, 238290, 238310, 238320, 238330, 238340, 238350, 238390, 238910, 238990, 811111, 811114, 811198, 811210, 811310, 811411, 811412, 811420, 811430, or 811490. .(c)Effective dateThe amendments made by this section shall apply to expenses paid in taxable years beginning after the date of the enactment of this Act.
The bill's own words, from our database (synced from the GPO BILLS XML); paragraph breaks added at the bill's section boundaries, nothing else changed.
| Date | Chamber | All Actions |
|---|---|---|
| 01/28/2025 | Library of Congress | Introduced in House |
| 01/28/2025 | Library of Congress | Introduced in House |
| 01/28/2025 | House floor actions | Referred to the House Committee on Ways and Means. |
| Title Type | Title |
|---|---|
| Display Title | Fairness for the Trades Act |
| Short Title(s) as Introduced | Fairness for the Trades Act |
| Official Title as Introduced | To amend the Internal Revenue Code of 1986 to permit qualified business trade expenses to be treated as qualified higher education expenses for purposes of 529 accounts. |
There are no amendments to this bill.
* = Original cosponsor
| Committee | Activity |
|---|---|
| House - Ways and Means Committee | 01/28/2025 Referred To |
No related bill information was received for H.R. 808.
Policy Area: Taxation
No legislative subjects have been assigned yet.
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