Bill116th CongressFiled Jan 30, 2019Taxation
S. 275
Skills Investment Act of 2019
Bill journey · stage 2 of 5
Under committee review
FiledFiled
CommitteeComm.
PassedFloor
Both ChambersBoth
Became LawLaw
What it doesSummary introduced in senate (Jan 30, 2019)
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.
What just happenedJan 30, 2019
Read twice and referred to the Committee on Finance.
Who’s behind it
Sen. Klobuchar, Amy [D-MN](D-MN)Sponsor
1 cosponsor1 R
1cosponsors1committees2actions1related bills9subjects
- Introduced in SenateJan 30, 2019
- Jan 30, 2019IntroReferral
Read twice and referred to the Committee on Finance.
Finance Committee - Jan 30, 2019IntroReferral10000
Introduced in Senate