To amend the Internal Revenue Code of 1986 to expand the uses for funds under qualified tuition programs, and for other purposes.

This bill expands the uses of qualified tuition program (529 plans) funds to include payment of costs related to industry recognized apprenticeship programs. It also provides for payment of expenses related to a career and technical education program or a career pathway.

The bill increases from 1.4% to 1.6% the rate of the excise tax on the investment income of certain private colleges and universities.