Bill > SB0368

This bill amends the Michigan Education Savings Program Act to expand the definition of "qualified higher education expenses" to include additional types of educational expenses. Specifically, the bill adds K-12 tuition for public, private, or religious schools as a qualified expense, alongside existing provisions for higher education costs. The expanded definition now allows money from education savings accounts to be used for elementary and secondary school tuition, which was not previously permitted. The bill also maintains existing provisions for other qualified expenses, such as fees for apprenticeship programs, student loan principal and interest payments, and higher education costs. The changes align with Section 529 of the Internal Revenue Code, which provides tax-advantaged savings options for educational expenses. By broadening the definition of qualified expenses, the bill gives families more flexibility in using their education savings accounts, enabling them to support educational costs across a wider range of educational stages and institutions.

Education

https://legislature.mi.gov/Bills/Bill?ObjectName=2025-SB-0368