Skills Investment Act of 2018

Fact Sheet API

Bill Number

HR 6250

Introduced

Jun 27, 2018

Latest Action

Referred to the House Committee on Ways and Means.

Sponsor

Cosponsors

Topics

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

Full Text

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Votes

Summary

Skills Investment Act of 2018

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.

Actions

Jun 27, 2018

Referred to the House Committee on Ways and Means.
Jun 27, 2018

Introduced in House

Amendments

Related Bills