NEST program expanded

Eligible uses of Nebraska educational savings plan trust accounts were expanded under a bill passed April 9.

Under LB748, introduced by Elkhorn Sen. Tony Sorrentino, families may use NEST accounts for education-related expenses beyond K-12 and postsecondary tuition, including books, tutoring and online instructional materials, beginning Jan. 1, 2029.

The bill also increases the annual withdrawal cap from $10,000 to $20,000 and expands eligible uses to qualified postsecondary credentialing programs, such as career and technical certifications.

Additionally, the measure permits the Nebraska State Treasurer’s Office to enter agreements with recognized postsecondary credentialing programs, excluding those related to investment of program funds, and to make payments directly to those programs on behalf of beneficiaries.

The bill passed on a 46-3 vote.