Senate Bill 3145
115th Congress(2017-2018)
Skills Investment Act of 2018
Introduced
Introduced in Senate on Jun 27, 2018
Origin Chamber
Senate
Type
Bill
Bill
The primary form of legislative measure used to propose law. Depending on the chamber of origin, bills begin with a designation of either H.R. or S. Joint resolution is another form of legislative measure used to propose law.
Bill Number
3145
Congress
115
Policy Area
Taxation
Taxation
Primary focus of measure is all aspects of income, excise, property, inheritance, and employment taxes; tax administration and collection. Measures concerning state and local finance may fall under Economics and Public Finance policy area.
No Senate votes have been held for this bill.
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.
June 27, 2018
06/27/2018
Read twice and referred to the Committee on Finance.
06/27/2018
Introduced in Senate
Public Record
Record Updated
Jan 11, 2023 1:42:07 PM