Tag Archives: Legislation

The 2024 legislative sessions came to an end for most states with the start of summer. While NASBA tracked many bills on enforcement matters, most bills from this year’s legislative sessions under the enforcement category focused on how criminal histories are weighed in licensure application decisions. There were several bills regarding other enforcement topics such…

SHARE: Freedom to Invest in Tomorrow’s Workforce Act  Bipartisan federal legislation – Freedom to Invest in Tomorrow’s Workforce Act (S.722 / H.R. 1477) would expand eligible uses of tax-favorable 529 savings plans to cover costs associated with workforce training and credentialing programs.    What are 529 Savings Plans?   529 savings plans are state-sponsored education savings vehicles…

Popular Legislative Themes Regarding Enforcement Topics: Child Support Non-Payment and Student Loan Default Generally, present law in most states authorizes many boards, commissions, and agencies that issue professional, occupation, and business licenses to suspend or revoke a license based on the licensee’s non-payment of child support and/or the licensee’s student loan default. Bills of this…

SHARE: The desirability of uniformity among accountancy jurisdictions is recognized in the Uniform Accountancy Act (UAA), which has created and refined systems to provide for: mobility, peer review, continuing professional education requirements, non-CPA ownership, CPE Reciprocity and the ease for reciprocal licensure in almost all 50 states, territories, and the District of Columbia—all while protecting…

SHARE: With 39 of the 51 jurisdictions convening in January (Montana, Nevada, North Dakota, and Texas do not have a regular session in even-numbered years), NASBA has already been monitoring pre-filed legislation for 2022. In addition, 26 legislatures work within the framework of a two-year cycle, allowing them to carry over legislation. For example, 78…

SHARE: A recently introduced bill in Congress would authorize the U.S. Treasury to regulate paid tax return preparers and mandate minimum competency standards. According to the Journal of Accountancy, the introduction of the Taxpayer Protection and Preparer Proficiency Act, H.R. 4184, in Congress follows the Biden administration’s request in late April, in its American Families…

SHARE: The 117th United States Congress recently introduced bipartisan legislation – H.R. 3855 – Accounting STEM Pursuit Act of 2021 – to recognize accounting as part of the STEM programs in schools. Under the Act, the accounting profession will become a part of the science, technology, engineering and mathematics curricula, reinforcing the clear and logical…