Lifelong Learning Accounts Act of 2007

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.

1/4/2007--Introduced.
Lifelong Learning Accounts Act of 2007 - Amends the Internal Revenue Code to:
(1) establish a tax-exempt lifelong learning account for the payment of certain employee higher education and training 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. Directs the Secretary of the Treasury to study and report to Congress on such accounts and the tax credits enacted by this Act.


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Sponsor

• Sen. Maria Cantwell [D, WA]
• and 3 Co-Sponsors
  • Sen. Susan Collins [R, ME]
  • Gordon Smith
  • Sen. Olympia Snowe [R, ME]
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Committees

• Senate Finance

Amendments

This bill has no amendments.

Amendments to S.26

Number	Status	Purpose

Bill Status

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Introduced		Voted on by Senate		Voted on by House		Considered By President		Bill Becomes Law
January 04, 2007

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All Bill Actions

• Jan 16, 2007: Introductory remarks on measure. (CR S572-573)
• Jan 16, 2007: Sponsor introductory remarks on measure. (CR S572-573)
• Introduced on Jan 04, 2007.
• Jan 04, 2007: Read twice and referred to the Committee on Finance.

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Related Bills:

• H.R.6036
• H.R.2901

Related Issue Areas:

• Taxation
• College costs
• Congress
• Congressional reporting requirements
• 12 more
• Education
• Education of the disadvantaged
• Education savings accounts
• Employee benefit plans
• Governmental investigations
• Higher education
• Income tax
• Labor
• Tax credits
• Tax exclusion
• Tax exemption
• Welfare

Data from the Congressional Research Service

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In the News

July 31, 2007 POLICE REPORTS

... on the ground • At 6: 45 am Sunday, Tiffany Bross at 16004 S. 26 th St. reported someone threw a beer bottle and broke the rear window of her vehicle. ...

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Source: Benton County Daily Record, AR

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July 22, 2007 Oil & Gas Activity: Completions

WHERE: Elm Grove Field, S. 26, T. 16N, R. 12W. DAILY PRODUCTION: 1625 mcf gas on 22/64-inch choke; 20 barrels 48 gravity condensate; 650 barrels water. ...

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Source: Shreveport Times, LA

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Blog Coverage

December 14, 2008 lawyersclubindia Forum : : What is the remedy for Husband !

In April 2008 - Immediately wife files S. 26 CPC for transfer of Judge and Court claiming family court judge to be biased - actually till date no award on S. 24 HMA to her :-) In July 2008 - Husband / father gets relief under S. 12 GWA ...

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Source: lawyersclubindia.com: judiciary

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August 16, 2007 Limitation of Dependant's Relief

Limitation of Dependant's Relief Posted on August 8, ... of the application (see section 61 of the Succession Law Reform Act, R.S.O. 1990, c. S.26). Have a great day

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Source: Toronto Estate Lawyer : Hull & Hull Law Firm : Trust Mediation and Succession Planning : Serving Ontario, Ottawa, Mississauga, Hamilton

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