Legis Daily

Skills Investment Act of 2019

USA116th CongressS-275| Senate 
| Updated: 1/30/2019
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 201 9 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
Jan 30, 2019

Latest Companion Bill Action

HR 116-898
Introduced in House
Jan 30, 2019
Introduced in Senate
Jan 30, 2019
Read twice and referred to the Committee on Finance.
  • January 30, 2019

    Latest Companion Bill Action

    HR 116-898
    Introduced in House


  • January 30, 2019
    Introduced in Senate


  • January 30, 2019
    Read twice and referred to the Committee on Finance.

Taxation

Related Bills

  • HR 116-898: Skills Investment Act of 2019
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

Skills Investment Act of 2019

USA116th CongressS-275| Senate 
| Updated: 1/30/2019
Skills Investment Act of 201 9 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
Jan 30, 2019

Latest Companion Bill Action

HR 116-898
Introduced in House
Jan 30, 2019
Introduced in Senate
Jan 30, 2019
Read twice and referred to the Committee on Finance.
  • January 30, 2019

    Latest Companion Bill Action

    HR 116-898
    Introduced in House


  • January 30, 2019
    Introduced in Senate


  • January 30, 2019
    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 116-898: Skills Investment Act of 2019
  • 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