Bills · HR 464
IN COMMITTEE· 119TH CONGRESS
House BillHR 464Taxation
Skills Investment Act of 2025
INTRO JAN 15· LAST ACTION JAN 15
READING
11MIN
COSPONSORS
6BIPARTISAN
READER REACTIONS0 TOTAL
NO VOTES YET · BE THE FIRST
- Introduced only
LEGISLATIVE PROGRESS
STEP 2 / 8Introduced
In Committee
Reported
Passed House
Passed Senate
Conference
To President
Became Law
WHAT THE BILL DOES
AI-writtenThis bill matters because it updates a tax-advantaged savings tool to better fit today's economy, where people often need to learn new skills or change careers multiple times. If this bill becomes law, it would make it easier and more affordable for individuals to pay for job training, technical education, and other forms of adult learning that are increasingly vital for workforce adaptability and career advancement. It shifts the focus from solely traditional college to a broader concept of continuous skill development.
Without this bill, these savings accounts would remain largely restricted to four-year college-track expenses and would still require funds to be spent or transferred out by age 30, potentially penalizing those who want to pursue different learning paths or need to fund education later in life. By expanding eligible uses and relaxing age restrictions, the bill aims to support a more flexible and responsive approach to education and skill building throughout a person's working life.
KEY PROVISIONS
5AI-extractedPROVISION 01
Renames 'Coverdell Education Savings Accounts' to 'Coverdell Lifelong Learning Accounts' across the Internal Revenue Code.
This renaming signals a broader purpose for these accounts, emphasizing continuous skill development beyond traditional K-12 and higher education.
PROVISION 02
Expands the types of expenses eligible for reimbursement from these accounts to include a wide range of job training, technical education, career services, youth activities, and adult literacy programs.
This allows individuals to use tax-advantaged savings for vocational training and skill development vital for modern workforce needs, not just traditional college.
PROVISION 03
Allows related expenses such as transportation, certification testing fees, and necessary computer equipment or internet access for these new eligible learning activities.
This makes the accounts more practical and comprehensive for individuals pursuing non-traditional education paths, covering essential indirect costs.
PROVISION 04
Modifies age restrictions to permit up to $10,000 to remain in an account after the beneficiary turns 30 without incurring tax penalties.
This provides greater flexibility for individuals to save for and fund future learning opportunities throughout their adult lives without strict age-based forfeiture.
PROVISION 05
Begins to modify rules to allow contributions to accounts for beneficiaries over the age of 30 (specific conditions or limits are not fully detailed in the provided text).
This provision aims to support ongoing adult education and skill development by allowing individuals to continue saving in these accounts later in life.
SPONSORSHIP
1 + 6
R· Pennsylvania
YRS IN OFFICE
17
BILLS LED
49
COSPONSOR BREAKDOWNBIPARTISAN · 66%
DEM 4 REP 2 IND 0
ACTION TIMELINE
3 EVENTSJAN 15
Introduced in House
JAN 15
Sponsor introductory remarks on measure. (CR H159)
JAN 15
Referred to the House Committee on Ways and Means.
BILL INFO
TypeHouse Bill
NumberHR 464
Congress119th
StatusIn Committee
IntroducedJan 15, 2025
Last actionJan 15, 2025
READER REACTIONS
OVERALL SENTIMENT
No reactions yet. Be the first to weigh in.
Discussion
Loading comments...
IN COMMITTEE· 119TH CONGRESS · WAYS AND MEANS COMMITTEE · INTRODUCED JAN 15, 2025
House BillHR 464Taxation
Skills Investment Act of 2025
INTRODUCED JAN 15, 2025· LAST ACTION JAN 15, 2025
PASSAGE CHANCES
—%
READING
11 min
COSPONSORS
6
COMPLEXITY
Moderate
