The PA-529 program has a proven track record of success.  It has helped families save for college and career-technical education, with more than 300,000 accounts that are worth $7.8 billion in contributions and investment growth.

In 2017, a change to federal law allowed 529 plans to be used for K-12 tuition, in addition to post-secondary expenses. The PA Treasury needs expanded authority to fully administer these federal changes. Therefore, my legislation would update the Tuition Account Programs and College Savings Bond Act (TAP Act) to align the provisions of the PA-529 program and the Treasury’s administrative capacity with federal law. This would allow families to use the successful PA-529 program to save for all stages of their child’s education. My legislation will also move the Keystone Scholars Grant Program, which gives every child born to a Pennsylvania family a $100 education investment, from the Fiscal Code into the TAP Act.

Please join me in co-sponsoring this important bill so that we may ensure families can make use of the full spectrum of PA-529 benefits.