3.0.0 6 2023-01-11T13:40:54Z 2023-01-11T13:40:54Z Senate S 2018-11-26 115 ssfi00 Finance Committee Senate Standing Referred to 2018-11-26T21:58:22Z Lifelong Learning and Training Account Act of 2018 115 7235 HR 2018-12-10 Referred to the House Committee on Ways and Means. Identical bill CRS 2018-11-26 ssfi00 Finance Committee Senate Read twice and referred to the Committee on Finance. IntroReferral 2018-11-26 Introduced in Senate IntroReferral 10000 9 Library of Congress W000805 Sen. Warner, Mark R. [D-VA] Mark Warner D VA R. N C001088 Sen. Coons, Christopher A. [D-DE] Christopher Coons D DE A. 2018-11-26 True Taxation Bank accounts, deposits, capital Education programs funding Employee benefits and pensions Employment and training programs Higher education Income tax exclusion Licensing and registrations Vocational and technical education Taxation 00 2018-11-26 Introduced in Senate 2019-01-28T15:14:04Z Lifelong Learning and Training Account Act of 2018

This bill establishes tax-preferred savings accounts that may be used to pay for training expenses and will be managed by state programs known as Lifelong Learning and Training Account programs.

Tax-exempt distributions from an account may be used for training that results in a recognized postsecondary credential, such as an industry-recognized certificate or certification, a license recognized by the federal government or a state, or an associate or baccalaureate degree.

The bill specifies contribution limits, age restrictions, and income limits that apply to beneficiaries of the accounts. Accounts that meet the requirements are eligible to receive certain federal matching funds for contributions made by the beneficiary or an employer.

]]> Lifelong Learning and Training Account Act of 2018 Display Title Lifelong Learning and Training Account Act of 2018 Official Title as Introduced A bill to amend the Internal Revenue Code of 1986 to establish Lifelong Learning and Training Account programs. Introduced in Senate IS Short Titles as Introduced Lifelong Learning and Training Account Act of 2018 Introduced in Senate 2018-11-26T05:00:00Z https://www.govinfo.gov/content/pkg/BILLS-115s6is/xml/BILLS-115s6is.xml 2018-11-26 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.