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HR 4017 116th Congress House Taxation Bank accounts, deposits, capital Education programs funding Employee benefits and pensions Higher education Income tax exclusion Licensing and registrations Vocational and technical education

Lifelong Learning and Training Account Act of 2019

Introduced: July 25, 2019 Introduced by: DelBene, Suzan K. Democratic · Washington See on congress.gov
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 Everywhere this bill has been 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jul 25, 2019
Referred to the House Committee on Ways and Means.
Jul 25, 2019
Introduced in House
 Plain-English summary Congressional Research Service

Lifelong Learning and Training Account Act of 2019

This bill establishes tax-exempt savings accounts that may be used to pay for training expenses and will be managed by state programs known as Lifelong Learning and Training Account programs.

Tax-exempt distributions from an account may be used for training that results in a recognized postsecondary credential, such as an industry-recognized certificate or certification, a license recognized by the federal government or a state, or an associate or baccalaureate degree.

The bill specifies contribution limits, age restrictions, and income limits that apply to beneficiaries of the accounts. Accounts that meet the requirements are eligible to receive certain federal matching funds for contributions made by the beneficiary or an employer.

What's happening now July 25, 2019

Referred to the House Committee on Ways and Means.

 Committees of jurisdiction 1
 Cosponsors 1
All 1 Democratic 1