New York bill S07206 aligns the state's college choice tuition savings program with federal qualified tuition programs, extending savings eligibility.
New York bill S07206 amends the education law to conform the state's college choice tuition savings program with federal qualified tuition programs. This change allows for savings to be used for educational expenses from kindergarten through grade 12. The bill specifies that "eligible educational institution" includes institutions defined in section 529(e)(5) of the Internal Revenue Code of 1986 and apprenticeship programs described in section 529(c)(8) of the same code. The amendments take effect immediately upon enactment.
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