H.R.6250 - Skills Investment Act of 2018115th Congress (2017-2018)
|Sponsor:||Rep. Kilmer, Derek [D-WA-6] (Introduced 06/27/2018)|
|Committees:||House - Ways and Means|
|Latest Action:||House - 06/27/2018 Referred to the House Committee on Ways and Means. (All Actions)|
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Summary: H.R.6250 — 115th Congress (2017-2018)All Information (Except Text)
Introduced in House (06/27/2018)
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.