H.R. 7115

[Congressional Bills 119th Congress]
[From the U.S. Government Publishing Office]
[H.R. 7115 Introduced in House (IH)]

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119th CONGRESS
2d Session
H. R. 7115

To amend the Internal Revenue Code of 1986 to establish Jumpstart 
Programs for saving for apprenticeship and trade occupation training, 
and for other purposes.

_______________________________________________________________________

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.

Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

This Act may be cited as the ``Jumpstart Savings Act''.

SEC. 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:

``SEC. 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.
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