The Senate Finance Committee has approved a measure to expand the Section 529 college savings program to include computer-related expenses. 
 
S. 335, approved April 29 by a voice vote after the markup, now awaits a vote by the full Senate.
The House passed a similar version Feb. 25 on a 401-20 vote. Though the president criticized provisions in the bill, saying the program largely favored the wealthy, he didn't issue a veto threat.
 
The bill would expand the tax-preferred college savings program to qualify expenses related to any computer technology, Internet access or related service for use by college students as an acceptable withdrawal from the account. Computer-related costs had been included in the program in tax years 2009 and 2010, but that provision expired. The measure would also modify the tax code to allow students who have taken money from a 529 savings account, but then withdrawn from classes, to re-deposit the money into the account within 60 days of receiving their refund without paying a penalty.