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S 26 110th Congress Senate

Lifelong Learning Accounts Act of 2007

Official title: A bill to amend the Internal Revenue Code of 1986 to establish a program demonstrating multiple approaches to Lifelong Learning Accounts, which are portable, w… Show full official titleShow less

Official title: A bill to amend the Internal Revenue Code of 1986 to establish a program demonstrating multiple approaches to Lifelong Learning Accounts, which are portable, worker-owned savings accounts that can be used by workers to help finance education, training, and apprenticeships and which are intended to supplement both public and employer-provided education and training resources, and for other purposes.

Introduced: March 14, 2007 Introduced by: Cantwell, Maria Democratic · Washington See on congress.gov
Taxation College costsCongressCongressional reporting requirementsEducation
More subjectsShow fewer subjects
Education of the disadvantagedEducation savings accountsEmployee benefit plansGovernmental investigationsHigher educationIncome taxLabor and EmploymentSocial WelfareTax creditsTax exclusionTax exemption
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This bill died when the 110th Congress ended
It never became law before the 110th Congress (2007–2008) adjourned, and bills don't carry over to the next Congress. It would have to be reintroduced. You can still save it for reference, but it won't receive updates.
 Everywhere this bill has been 3 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jan 16, 2007
Sponsor introductory remarks on measure. (CR S572-573)
Jan 4, 2007
Read twice and referred to the Committee on Finance.
Jan 4, 2007
Introduced in Senate
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 Latest action January 16, 2007

Sponsor introductory remarks on measure. (CR S572-573)

 Plain-English summary Congressional Research Service

Lifelong Learning Accounts Act of 2007 - Amends the Internal Revenue Code to: (1) establish a tax-exempt lifelong learning account for the payment of certain employee higher education and training expenses; (2) allow individuals a nonrefundable tax credit for contributions to such accounts; and (3) allow employers a business-related tax credit for contributions to such accounts.

Directs the Secretary of the Treasury to study and report to Congress on such accounts and the tax credits enacted by this Act.

 Related & companion bills 2
  • HR 2901 Related bill Lifelong Learning Accounts Act of 2007
  • HR 6036 Related bill Lifelong Learning Accounts Act of 2008
 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
 Cosponsors 1
All 1 Republican 1
R
Collins, Susan M.
Maine · Mar 14, 2007
Cite this page click to expand
APA
U.S. Congress. (2026). S. 26: Lifelong Learning Accounts Act of 2007. 110th Congress. Open America. https://openamerica.io/bill/110-S-26/
MLA
"S. 26: Lifelong Learning Accounts Act of 2007." 110th Congress, 2026, Open America, https://openamerica.io/bill/110-S-26/.
Bluebook (legal)
S. 26, 110th Cong. (2026), https://openamerica.io/bill/110-S-26/.
Markdown link
[S. 26: Lifelong Learning Accounts Act of 2007](https://openamerica.io/bill/110-S-26/)
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