HOUSE 898116th CongressReferred to the House Committee on Ways and Means.
Skills Investment Act of 2019
- Last Action
- 1/30/2019
Actions
- 2019-01-30Referred to the House Committee on Ways and Means.
- 2019-01-30Introduced in House
- 2019-01-30Introduced in House
CRS Summary
As of 2019-01-30 (00)
Skills Investment Act of 2019
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.
Cosponsors (13)
- Glenn Thompson (R-PA)
- Scott Peters (D-CA)
- Brian Fitzpatrick (R-PA)
- Bill Posey (R-FL)
- Kathleen Rice (D-NY)
- Elaine Luria (D-VA)
- Ann Kuster (D-NH)
- Tom Reed (R-NY)
- Josh Harder (D-CA)
- Julia Brownley (D-CA)
- Bradley Schneider (D-IL)
- Neal Dunn (R-FL)
- Don Bacon (R-NE)
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
- Vocational and technical education
- Youth employment and child labor
Sourced from Congress.gov (public domain).
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