Bill Text: VA SB1429 | 2023 | Regular Session | Prefiled

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Bill Title: Virginia College Savings Plan; hybrid schools, classification.

Spectrum: Partisan Bill (Republican 1-0)

Status: (Introduced - Dead) 2023-02-01 - Passed by indefinitely in Finance and Appropriations (11-Y 5-N) [SB1429 Detail]

Download: Virginia-2023-SB1429-Prefiled.html

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SENATE BILL NO. 1429 Offered January 11, 2023 Prefiled January 11, 2023 A BILL to require the classification of hybrid elementary or secondary schools by the Virginia College Savings Plan. ---------- Patron-- Suetterlein ---------- Referred to Committee on Education and Health ----------

Be it enacted by the General Assembly of Virginia:

1. §1. For the purposes of complying with the provisions of 26 U.S.C. § 529(c)(7), the Virginia College Savings Plan (the Plan) shall consider any hybrid public-private elementary or secondary school to be a public elementary or secondary school or a private elementary or secondary school such that a beneficiary's account under a qualified tuition program established and maintained by the Plan may be used to cover up to $10,000 in expenses in any taxable year for tuition in connection with the beneficiary's enrollment or attendance at such a hybrid school as permitted pursuant to 26 U.S.C. § 529(e)(3)(iii).