H.R. 7115

119 HR 7115 IH: Jumpstart Savings Act
 U.S. House of Representatives
 2026-01-15
 text/xml
 EN
 Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain.
 I  119th CONGRESS  2d Session  H. R. 7115  IN THE HOUSE OF REPRESENTATIVES   January 15, 2026   Mr. Moore of West Virginia  (for himself,  Mr. Rulli ,  Mrs. Hinson ,  Mr. Goldman of Texas , and  Mr. Moore of Alabama ) introduced the following bill; which was referred to the  Committee on Ways and Means    A BILL
To amend the Internal Revenue Code of 1986 to establish Jumpstart Programs for saving for apprenticeship and trade occupation training, and for other purposes.
1.
Short title
This Act may be cited as the   Jumpstart Savings Act  .
2.
Jumpstart Program
(a)
In general
Part VIII of subchapter F of  chapter 1  of the Internal Revenue Code of 1986 is amended by inserting after section 529A the following new section:
529B.
Jumpstart Program
(a)
In general
A Jumpstart Program shall be exempt from taxation under this subtitle. Notwithstanding the preceding sentence, such program shall be subject to the taxes imposed by section 511 (relating to imposition of tax on unrelated business income of charitable organizations).
(b)
Jumpstart Program
For purposes of this section—
(1)
In general
The term  Jumpstart Program  means a program established and maintained by a State or agency or instrumentality thereof under which a person may make contributions to an account which is established for the purpose of meeting the qualified occupation, profession, or trade expenses of the designated beneficiary of the account.
(2)
Additional requirements
A program shall not be treated as a Jumpstart Program unless such program meets rules similar to the rules of paragraphs (2), (3), (4), (5), and (6) of section 529(b).
(c)
Qualified occupation, profession, or trade expenses
For purposes of this section, the term  qualified occupation, profession, or trade expenses  means—
(1)
expenses in connection with completing an apprenticeship program registered and certified with the Department of Labor, as provided in the Act of August 16, 1937 (commonly known as the  National Apprenticeship Act ; 50 Stat. 664, chapter 663;  29 U.S.C. 50 et seq. ),
(2)
tuition, fees, books, supplies, and equipment required for the enrollment or attendance of a designated beneficiary in an associate degree or certification program at a community and technical college,
(3)
fees for required certification or licensure for the beneficiary to practice a trade or occupation,
(4)
amounts paid or incurred for the purchase of tools and equipment acquired by the individual in the normal course of the practice of a trade or occupation, and
(5)
costs incurred by the beneficiary that are necessary to establish a business in a State in which the beneficiary will practice an occupation or profession when the costs are exclusively paid or incurred for the purpose of establishing and operating such business.
(d)
Tax treatment of designated beneficiaries and contributors
For purposes of this section, rules similar to the rules of paragraphs (1), (2), (3), (4), and (5) of section 529(c) shall apply to Jumpstart Accounts in the same manner as applied to qualified tuition programs described in section 529(b)(1)(A)(ii).
(e)
Designated beneficiary
The term  designated beneficiary  means—
(1)
the individual designated at the commencement of participation in the Jumpstart Program as the beneficiary of amounts paid (or to be paid) to the program, and
(2)
in the case of a change in beneficiaries under rules similar to the rules of section 529(c)(3)(C), the individual who is the new beneficiary.
(f)
Reports
Each officer or employee having control of the Jumpstart Program or their designee shall make such reports regarding such program to the Secretary and to designated beneficiaries with respect to contributions, distributions, and such other matters as the Secretary may require. The reports required by this paragraph shall be filed at such time and in such manner and furnished to such individuals at such time and in such manner as may be required by the Secretary.
 .
(b)
Rollover from qualified tuition programs
Section 529(c)(3)(C)(i) of such Code is amended by striking  or  at the end of subclause (II), by striking the period at the end of subclause (III) and inserting  , or , and by inserting after subclause (III) the following new subclause:
(IV)
to a Jumpstart Program (as defined in section 529B(b)(1)) of the designated beneficiary or a member of the family of the designated beneficiary.
  .
(c)
Failure to provided reports
Section 6693(a)(2) of such Code is amended by redesignating subparagraphs (F) and (G) as subparagraphs (G) and (E), respectively, and by inserting after subparagraph (E) the following new subparagraph:
(F)
section 529B(f) (relating to Jumpstart Program),
 .
(d)
Clerical amendment
The table of sections for part VIII of subchapter F of chapter 1 is amended by inserting after the item relating to section 529A the following new item:
Sec. 529B. Jumpstart Program.
  .
(e)
Effective date
The amendment made by this section shall apply to taxable years beginning after December 31, 2025.