3.0.0 3145 2023-01-11T13:42:07Z 2023-01-11T13:42:07Z Senate S 2018-06-27 115 ssfi00 Finance Committee Senate Standing Referred to 2018-06-27T14:52:03Z Skills Investment Act of 2018 115 6250 HR 2018-06-27 Referred to the House Committee on Ways and Means. Identical bill CRS 2018-06-27 ssfi00 Finance Committee Senate Read twice and referred to the Committee on Finance. IntroReferral 2018-06-27 Introduced in Senate IntroReferral 10000 9 Library of Congress K000367 Sen. Klobuchar, Amy [D-MN] Amy Klobuchar D MN N S001197 Sen. Sasse, Ben [R-NE] Ben Sasse R NE 2018-06-27 True Taxation Bank accounts, deposits, capital Employment and training programs Higher education Income tax credits Income tax deductions Income tax deferral Student aid and college costs Vocational and technical education Youth employment and child labor Taxation 00 2018-06-27 Introduced in Senate 2019-01-24T15:36:03Z 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.
]]> Skills Investment Act of 2018 Display Title Skills Investment Act of 2018 Official Title as Introduced A bill to amend the Internal Revenue Code of 1986 to provide for lifelong learning accounts, and for other purposes. Introduced in Senate IS Short Titles as Introduced Skills Investment Act of 2018 Introduced in Senate 2018-06-27T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-115s3145is/xml/BILLS-115s3145is.xml 2018-06-27 Read twice and referred to the Committee on Finance. text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.