On July 4, President Trump signed into law H.R. 1, One Big Beautiful Bill Act, which contains the Freedom to Invest in Tomorrow’s Workforce Act. The act is a bipartisan provision that CAI spent multiple years supporting along with several national trade association coalitions.
This provision transforms 529 college savings plans into career savings plans by allowing beneficiaries to use the funds in tax-favored accounts to cover costs associated with obtaining and maintaining high quality postsecondary credentials including professional certifications and government licenses. This includes workforce training and credentialing programs such as CAI’s M-100 course and other credential opportunities such as the Community Association Managers International Certification Board’s Certified Manager of Community Associations (CMCA®) certification.
CAI and CAMICB advocated for this legislation for the last several years through the American Society of Association Executives, the Tomorrow’s Workforce Coalition, and the Professional Certification Coalition. The groups met with members of Congress, held fly-ins on Capitol Hill, and sponsored grassroots email campaigns. CAI and CAMICB are members of ASAE and organizational members of the PCC along with hundreds of other associations that offer professional credentials within their industries.
The Freedom to Invest in Tomorrow’s Workforce provision provides valuable tax-advantage resources for workers who pursue alternative career pathways, mid-career changes, or career growth. The legislation aims to shift the 529 paradigm from “college savings plans” to “career savings plans” by increasing access to career-building credentials and training while opening 529 plans’ unique tax advantages to more people.
CAI encourages the national certification of community association managers. In states that propose mandatory regulation of community association managers, CAI supports a system that incorporates adequate protection for homeowners, mandatory education, and testing on fundamental management knowledge, standards of conduct, and appropriate insurance requirements. CAI opposes the licensing of community association managers as real estate brokers, agents, or property managers.
CAI provides several professional designations opportunities for community association professionals. Attorneys practicing community association law may apply to be a fellow in the CAI College of Community Association Lawyers. CAMICB administers the CMCA, which is the only internationally accredited certification program in the community association management field.
These credentials and designations recognize a professional’s achievements in the community association industry. The industry is expanding, and communities need qualified professionals to safeguard and empower the financial well-being, physical maintenance, and social harmony of community associations. Professionals who earn credentials and/or designations receive an average 55% increase in salary, according to CAI.
This provision provides economic flexibility to American workers and their families by providing up to $10,000 a year from 529 plans to help cover:
- Certification program tuition.
- Testing fees including practice exams.
- Required books and equipment.
- Continuing education and certification renewals.
- Other charges that require obtaining and maintaining certification.
The American workforce is comprised mostly of middle-skill jobs requiring more than a high school education but not a bachelor’s degree, according to the National Skills Coalition. A differentiator for obtaining jobs in the 21st century economy is through professional certification—for workers with or without a college degree.
Click here for more information on CAI’s credentials and designations and here for more information on CAI’s community association manager licensing public policy.
Please contact CAI’s Government & Public Affairs team at government@caionline.org with any questions.
