To amend the Internal Revenue Code of 1986 to permit qualified distributions from section 529 plans for certain transportation and parking expenses.

HR 8438 expands the use of 529 college savings plans to cover reasonable transportation and parking costs at eligible educational institutions. It allows distributions for these expenses, up to the amount the school includes in its cost of attendance for transportation. The bill directly affects students using 529 plans who pay for commuting or parking, making these costs eligible alongside traditional education expenses like tuition. The change applies to distributions made after the law's effective date, as specified in the bill text.