US SB275 | 2019-2020 | 116th Congress
Status
Spectrum: Bipartisan Bill
Status: Introduced on January 30 2019 - 25% progression, died in committee
Action: 2019-01-30 - Read twice and referred to the Committee on Finance.
Pending: Senate Finance Committee
Text: Latest bill text (Introduced) [PDF]
Status: Introduced on January 30 2019 - 25% progression, died in committee
Action: 2019-01-30 - Read twice and referred to the Committee on Finance.
Pending: Senate Finance Committee
Text: Latest bill text (Introduced) [PDF]
Summary
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.
Title
Skills Investment Act of 2019
Sponsors
Sen. Amy Klobuchar [D-MN] | Sen. Ben Sasse [R-NE] |
History
Date | Chamber | Action |
---|---|---|
2019-01-30 | Senate | Read twice and referred to the Committee on Finance. |
Same As/Similar To
HB898 (Same As) 2019-01-30 - Referred to the House Committee on Ways and Means.
Subjects
Bank accounts, deposits, capital
Employment and training programs
Higher education
Income tax credits
Income tax deductions
Income tax deferral
Student aid and college costs
Taxation
Vocational and technical education
Youth employment and child labor
Employment and training programs
Higher education
Income tax credits
Income tax deductions
Income tax deferral
Student aid and college costs
Taxation
Vocational and technical education
Youth employment and child labor
US Congress State Sources
Type | Source |
---|---|
Summary | https://www.congress.gov/bill/116th-congress/senate-bill/275/all-info |
Text | https://www.congress.gov/116/bills/s275/BILLS-116s275is.pdf |