S.26 - Lifelong Learning Accounts Act of 2007 Sponsor: Maria Cantwell / 110th Congress

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Title
110th Congress - A bill to amend the Internal Revenue Code of 1986 to establish a program demonstrating multiple approaches to Lifelong Learning Accounts, which are portable, worker-owned savings accounts that can be used by workers to help finance education, training, and apprenticeships and which are intended to supplement both public and employer-provided education and training resources, and for other purposes. hidemore...
Summary
This bill would 1) establish a tax-exempt lifelong learning account to pay for certain higher education expenses, 2) allow individuals a nonrefundable tax credit for contributions to such accounts, and 3) allow employers a business-related tax credit for contributions to such accounts. (by MAPLight.org)
Status
The bill has been introduced.

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