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A bill to amend the Internal Revenue Code of 1986 to provide for lifelong learning accounts, and for other purposes.

USA115th CongressS-3145| Senate 
| Updated: 6/27/2018
Amy Klobuchar

Amy Klobuchar

Democratic Senator

Minnesota

Cosponsors (1)
Ben Sasse (Republican)

Finance Committee

  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
Skills Investment Act of 2018 This bill expands tax-favored Coverdell education savings accounts to allow the accounts to be used for educational or skill development expenses such as training services, career and technical education activities, career services, youth workforce investment activities, and adult education and literacy activities. The bill also: renames the accounts "Coverdell lifelong learning accounts," increases contribution limits, modifies the age-based contribution restrictions, allows a tax credit for a portion of an employer's contributions to an employee's account, and allows beneficiaries to deduct contributions made by or on behalf of the beneficiary.
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Timeline
Jun 27, 2018

Latest Companion Bill Action

HR 115-6250
Introduced in House
Jun 27, 2018
Introduced in Senate
Jun 27, 2018
Read twice and referred to the Committee on Finance.
  • June 27, 2018

    Latest Companion Bill Action

    HR 115-6250
    Introduced in House


  • June 27, 2018
    Introduced in Senate


  • June 27, 2018
    Read twice and referred to the Committee on Finance.

Taxation

Related Bills

  • HR 115-6250: To amend the Internal Revenue Code of 1986 to provide for lifelong learning accounts, and for other purposes.
Bank accounts, deposits, capitalEmployment and training programsHigher educationIncome tax creditsIncome tax deductionsIncome tax deferralStudent aid and college costsVocational and technical educationYouth employment and child labor

A bill to amend the Internal Revenue Code of 1986 to provide for lifelong learning accounts, and for other purposes.

USA115th CongressS-3145| Senate 
| Updated: 6/27/2018
Skills Investment Act of 2018 This bill expands tax-favored Coverdell education savings accounts to allow the accounts to be used for educational or skill development expenses such as training services, career and technical education activities, career services, youth workforce investment activities, and adult education and literacy activities. The bill also: renames the accounts "Coverdell lifelong learning accounts," increases contribution limits, modifies the age-based contribution restrictions, allows a tax credit for a portion of an employer's contributions to an employee's account, and allows beneficiaries to deduct contributions made by or on behalf of the beneficiary.
View Full Text

Suggested Questions

Get AI-generated questions to help you understand this bill better

Timeline
Jun 27, 2018

Latest Companion Bill Action

HR 115-6250
Introduced in House
Jun 27, 2018
Introduced in Senate
Jun 27, 2018
Read twice and referred to the Committee on Finance.
  • June 27, 2018

    Latest Companion Bill Action

    HR 115-6250
    Introduced in House


  • June 27, 2018
    Introduced in Senate


  • June 27, 2018
    Read twice and referred to the Committee on Finance.
Amy Klobuchar

Amy Klobuchar

Democratic Senator

Minnesota

Cosponsors (1)
Ben Sasse (Republican)

Finance Committee

Taxation

Related Bills

  • HR 115-6250: To amend the Internal Revenue Code of 1986 to provide for lifelong learning accounts, and for other purposes.
  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
Bank accounts, deposits, capitalEmployment and training programsHigher educationIncome tax creditsIncome tax deductionsIncome tax deferralStudent aid and college costsVocational and technical educationYouth employment and child labor