3.0.0 4023 2023-03-08T20:12:35Z 2023-03-08T20:12:35Z Senate S 2022-04-07 117 ssfi00 Finance Committee Senate Standing Referred to 2022-04-07T14:54:27Z 2022-04-07 ssfi00 Finance Committee Senate Read twice and referred to the Committee on Finance. IntroReferral 2022-04-07 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. 2022-04-07 True Taxation Taxation 00 2022-04-07 Introduced in Senate 2022-04-14T17:40:29Z Lifelong Learning and Training Account Act of 2021

This bill establishes tax-exempt 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 2021 Display Title Lifelong Learning and Training Account Act of 2021 Short Title(s) as Introduced Lifelong Learning and Training Account Act of 2021 Introduced in Senate IS 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 Introduced in Senate 2022-04-07T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-117s4023is/xml/BILLS-117s4023is.xml 2022-04-07 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.