HOUSE 1242117th CongressReferred to the House Committee on Ways and Means.
Skills Investment Act of 2021
- Last Action
- 2/23/2021
Actions
- 2021-02-23Referred to the House Committee on Ways and Means.
- 2021-02-23Introduced in House
- 2021-02-23Introduced in House
CRS Summary
As of 2021-02-23 (00)
Skills Investment Act of 2021
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.
Sourced from Congress.gov (public domain).
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