The federal Setting Every Community Up for Retirement
Enhancement Act of 2019 expanded qualified distributions from a qualified state tuition program (529 account) to include expenses for fees, books, supplies, and equipment required for the participation of a designated beneficiary in certain apprenticeship programs.
In light of these changes to federal law, the bill amends Colorado
law to clarify what qualifies as a qualified distribution from a 529 account for the purpose of determining state taxable income. The bill allows expenses for fees, books, supplies, and equipment required for the participation of a designated beneficiary in certain apprenticeship programs to be treated as such a qualified distribution.
