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S 539 116th Congress Senate Taxation Bank accounts, deposits, capital Education programs funding Employee benefits and pensions Employment and training programs Higher education Income tax exclusion Licensing and registrations Vocational and technical education

Lifelong Learning and Training Account Act of 2019

Introduced: February 25, 2019 Introduced by: Warner, Mark R. Democratic · Virginia 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
Feb 25, 2019
Read twice and referred to the Committee on Finance.
Feb 25, 2019
Introduced in Senate
 Plain-English summary Congressional Research Service

Lifelong Learning and Training Account Act of 2019

This bill establishes tax-preferred 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 February 25, 2019

Read twice and referred to the Committee on Finance.

 Committees of jurisdiction 1
 Cosponsors 1
All 1 Democratic 1