II 

116TH CONGRESS 

1ST SESSION S. 539 

To amend the Internal Revenue Code of 1986 to establish Lifelong Learning 

and Training Account programs. 

IN THE SENATE OF THE UNITED STATES 

FEBRUARY 25, 2019 

Mr. WARNER (for himself and Mr. COONS) introduced the following bill; which 

was read twice and referred to the Committee on Finance 

A BILL 

To amend the Internal Revenue Code of 1986 to establish 

Lifelong Learning and Training Account programs. 

1 Be it enacted by the Senate and House of Representa2 tives of the United States of America in Congress assembled, 

3 SECTION 1. SHORT TITLE. 

4 This Act may be cited as the ‘‘Lifelong Learning and 

5 Training Account Act of 2019’’. 

6 SEC. 2. LIFELONG LEARNING AND TRAINING ACCOUNT 

7 PROGRAMS. 

8 (a) IN GENERAL.—Part VIII of subchapter F of 

9 chapter 1 of the Internal Revenue Code of 1986 is amend10 ed by inserting after section 530 the following new section: 


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1 ‘‘SEC. 531. LIFELONG LEARNING AND TRAINING ACCOUNT 

2 PROGRAMS. 

3 ‘‘(a) IN GENERAL.—A Lifelong Learning and Train4 ing Account program shall be exempt from taxation under 

5 this subtitle. Notwithstanding the preceding sentence, 

6 such program shall be subject to the taxes imposed by sec7 tion 511. 

8 ‘‘(b) LIFELONG LEARNING AND TRAINING ACCOUNT

9 PROGRAM.—For purposes of this section— 

10 ‘‘(1) IN GENERAL.—The term ‘Lifelong Learn11 ing and Training Account program’ means a pro12 gram established and maintained by a State or 

13 agency or instrumentality thereof— 

14 ‘‘(A) under which the designated bene15 ficiary of the account or their employer may 

16 make contributions to an account which is es17 tablished for the purpose of meeting the quali18 fied training expenditures of such beneficiary, 

19 and 

20 ‘‘(B) which meets the other requirements 

21 of this section. 

22 ‘‘(2) QUALIFIED TRUST.—Except to the extent 

23 provided in regulations, a program shall not be 

24 treated as a Lifelong Learning and Training Ac25 count program unless such program provides that 

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1 gram has received a ruling or determination by the 

2 Secretary that such program meets the applicable 

3 requirements for a Lifelong Learning and Training 

4 Account program. For purposes of the preceding 

5 sentence, the term ‘qualified trust’ means a trust 

6 which is created or organized in the United States 

7 for the exclusive benefit of designated beneficiaries 

8 and with respect to which the requirements of para9 graphs (2) and (5) of section 408(a) are met. 

10 ‘‘(3) REQUIREMENTS.— 

11 ‘‘(A) IN GENERAL.—A program shall not 

12 be treated as a Lifelong Learning and Training 

13 Account program unless it provides— 

14 ‘‘(i) that contributions may only be 

15 made in cash, 

16 ‘‘(ii) separate accounting for each des17 ignated beneficiary, 

18 ‘‘(iii) that no interest in the program 

19 or any portion thereof may be used as se20 curity for a loan, 

21 ‘‘(iv) that no contributions may be 

22 made on behalf of a designated bene23 ficiary— 

24 ‘‘(I) in excess of $2,000 during 

25 any calendar year, 


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1 ‘‘(II) if the total amount in the 

2 account of such beneficiary is in ex3 cess of $15,000, or 

4 ‘‘(III) during any calendar year 

5 which begins after such beneficiary at6 tains 57 years of age, 

7 ‘‘(v) that any distribution shall be 

8 made in accordance with the requirements 

9 under subparagraphs (B) and (C), and 

10 ‘‘(vi) that required distributions shall 

11 be made in accordance with paragraph (6). 

12 ‘‘(B) METHOD OF DISTRIBUTION.— 

13 ‘‘(i) IN GENERAL.—For purposes of 

14 any distribution from the account of a des15 ignated beneficiary under a Lifelong 

16 Learning and Training Account program— 

17 ‘‘(I) the applicable amount of 

18 such distribution shall be drawn from 

19 amounts transferred to the account of 

20 the designated beneficiary pursuant to 

21 paragraph (4) and any earnings there22 on, and 

23 ‘‘(II) after application of sub24 clause (I), the remainder of such dis25 tribution shall be drawn from 


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1 amounts contributed by the des2 ignated beneficiary or their employer 

3 and any earnings thereon. 

4 ‘‘(ii) APPLICABLE AMOUNT.—For pur5 poses of clause (i)(I), the applicable 

6 amount shall be an amount equal to the 

7 lesser of— 

8 ‘‘(I) 50 percent of the amount of 

9 the distribution, or 

10 ‘‘(II) the total amount of any 

11 available funds in the account of the 

12 designated beneficiary which were 

13 transferred pursuant to paragraph (4) 

14 and any earnings thereon. 

15 ‘‘(iii) OTHER METHODS.—The Sec16 retary may amend, alter, or supplement 

17 the distribution requirements under this 

18 subparagraph in such manner as the Sec19 retary deems appropriate. 

20 ‘‘(C) REPORTING.—For purposes of any 

21 distribution from the account of a designated 

22 beneficiary under a Lifelong Learning and 

23 Training Account program, the administrator 

24 shall provide the beneficiary and the Secretary 


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1 with such information as the Secretary deems 

2 appropriate, including— 

3 ‘‘(i) the amount of such distribution, 

4 including the applicable amount of such 

5 distribution (as described in subparagraph 

6 (B)(ii)), and 

7 ‘‘(ii) whether such distribution was 

8 provided— 

9 ‘‘(I) directly to the program de10 scribed in clauses (i) through (iii) of 

11 subsection (e)(5)(A) which provides 

12 training to the beneficiary, or 

13 ‘‘(II) to reimburse the beneficiary 

14 for any qualified training expenditures 

15 incurred by such beneficiary. 

16 ‘‘(4) MATCHING FUNDS.— 

17 ‘‘(A) TRANSFER TO BENEFICIARY AC18 COUNT.— 

19 ‘‘(i) IN GENERAL.—Out of any mon20 eys in the Treasury not otherwise appro21 priated, the Secretary shall transfer to the 

22 account of any designated beneficiary 

23 under a Lifelong Learning and Training 

24 Account program an amount equal to any 

25 amounts contributed to such account by 


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1 such beneficiary or their employer which 

2 occur during any calendar year which be3 gins after the date on which such bene4 ficiary attains 24 years of age. 

5 ‘‘(ii) LIMITATION.—Any amounts 

6 transferred by the Secretary to the account 

7 of any designated beneficiary pursuant to 

8 clause (i) during any calendar year— 

9 ‘‘(I) shall not exceed $1,000, and 

10 ‘‘(II) shall not be subject to the 

11 limitation under paragraph 

12 (3)(A)(iv)(I). 

13 ‘‘(B) DEPOSIT OF MATCHING FUNDS.— 

14 Any amounts required to be transferred to the 

15 account of a designated beneficiary under sub16 paragraph (A) shall be transferred by the Sec17 retary as soon as is practicable following any 

18 contribution to such account by such bene19 ficiary or their employer. 

20 ‘‘(C) REDUCTION IN MATCHING FUNDS.— 

21 ‘‘(i) IN GENERAL.—For each applica22 ble taxable year, the dollar amount in sub23 paragraph (A)(ii)(I) shall be reduced (but 

24 not below zero) by an amount equal to the 

25 greater of— 


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1 ‘‘(I) an amount which bears the 

2 same ratio to such dollar amount as— 

3 ‘‘(aa) the amount (not less 

4 than zero) equal to the adjusted 

5 gross income of the taxpayer for 

6 the applicable taxable year minus 

7 $72,000, bears to 

8 ‘‘(bb) $10,000, or 

9 ‘‘(II) an amount which bears the 

10 same ratio to such dollar amount as— 

11 ‘‘(aa) the amount (not less 

12 than zero) equal to the earned in13 come (as described in section 

14 32(c)(2)) of the designated bene15 ficiary for the applicable taxable 

16 year minus $72,000, bears to 

17 ‘‘(bb) $10,000. 

18 ‘‘(ii) MARRIED INDIVIDUALS.—In the 

19 case of a designated beneficiary who is 

20 married (within the meaning of section 

21 7703)— 

22 ‘‘(I) if such beneficiary has filed 

23 a joint return for the applicable tax24 able year, each of the dollar amounts 


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1 under clause (i)(I) shall be doubled 

2 for such year, or 

3 ‘‘(II) if such beneficiary has not 

4 filed a joint return for the applicable 

5 taxable year, the dollar amount in 

6 subparagraph (A)(ii)(I) shall be re7 duced to zero for such year. 

8 ‘‘(iii) APPLICABLE TAXABLE YEAR.— 

9 For purposes of this subparagraph, the 

10 term ‘applicable taxable year’ means the 

11 taxable year in which the transfer de12 scribed in subparagraph (A)(i) is made to 

13 the account of the designated beneficiary. 

14 ‘‘(iv) EXCESS TRANSFERS.—If the 

15 total amount of any transfers made to the 

16 account of a designated beneficiary pursu17 ant to subparagraph (A)(i) during an ap18 plicable taxable year exceeds the dollar 

19 amount under subparagraph (A)(ii)(I) 

20 (after application of clauses (i) and (ii)) 

21 for such taxable year, the tax imposed by 

22 this chapter for such taxable year shall be 

23 increased by the amount of such excess. 

24 ‘‘(D) DISTRIBUTION OF MATCHING

25 FUNDS.— 


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1 ‘‘(i) IN GENERAL.—Any distribution 

2 under a Lifelong Learning and Training 

3 Account program made from amounts 

4 transferred pursuant to this paragraph 

5 shall be made by the administrator— 

6 ‘‘(I) directly to the program de7 scribed in clauses (i) through (iii) of 

8 subsection (e)(5)(A) which provides 

9 training to the designated beneficiary, 

10 or 

11 ‘‘(II) to reimburse the designated 

12 beneficiary for any qualified training 

13 expenditures incurred by such bene14 ficiary, 

15 provided that the beneficiary has provided 

16 the administrator with such documentation 

17 as is deemed necessary to ensure compli18 ance with clause (ii). 

19 ‘‘(ii) PROHIBITION.—No amounts 

20 transferred pursuant to this paragraph to 

21 any account of a designated beneficiary 

22 under a Lifelong Learning and Training 

23 Account program may be distributed for 

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1 imbursement of qualified training expendi2 tures. 

3 ‘‘(E) ADDITIONAL REDUCTION FOR NON4 QUALIFIED DISTRIBUTIONS.—For purposes of 

5 any amount of a distribution under a Lifelong 

6 Learning and Training Account program which 

7 is includible in the gross income of the des8 ignated beneficiary, any available funds in the 

9 account of such beneficiary which were trans10 ferred pursuant to this paragraph (and any 

11 earnings thereon) shall also be reduced by such 

12 amount. 

13 ‘‘(F) RESCISSION OF MATCHING FUNDS.— 

14 On January 1 of the applicable calendar year, 

15 any available funds in the account of such bene16 ficiary which were transferred pursuant to this 

17 paragraph (and any earnings thereon) shall be 

18 reduced to zero. 

19 ‘‘(5) INVESTMENT.— 

20 ‘‘(A) IN GENERAL.—Any contributions or 

21 transfers to a Lifelong Learning and Training 

22 Account program (and any earnings thereon) 

23 shall be invested by the administrator in United 

24 States Treasury securities with a maturity date 

25 of not greater than 10 years. 


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1 ‘‘(B) SECRETARIAL AUTHORITY.—The Sec2 retary may prescribe such regulations, rules, or 

3 other guidance as may be necessary or appro4 priate for purposes of applying this paragraph. 

5 ‘‘(6) REQUIRED DISTRIBUTIONS.—On January 

6 1 of the applicable calendar year, the total amount 

7 of available funds in the account of the designated 

8 beneficiary which were contributed by the designated 

9 beneficiary or their employer (and any earnings 

10 thereon) shall be distributed to such beneficiary. 

11 ‘‘(c) TAX TREATMENT.— 

12 ‘‘(1) IN GENERAL.—Except as otherwise pro13 vided in this subsection, no amount shall be includ14 ible in gross income of— 

15 ‘‘(A) a designated beneficiary under a Life16 long Learning and Training Account program, 

17 or 

18 ‘‘(B) an employer of such beneficiary that 

19 contributes to such program on behalf of such 

20 beneficiary, 

21 with respect to any distribution or earnings under 

22 such program. 

23 ‘‘(2) DISTRIBUTIONS.— 

24 ‘‘(A) IN GENERAL.—Any distribution 

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1 count program shall be includible in the gross 

2 income of the distributee in the manner as pro3 vided under section 72 to the extent not ex4 cluded from gross income under any other pro5 vision of this chapter. 

6 ‘‘(B) DISTRIBUTIONS FOR QUALIFIED

7 TRAINING EXPENDITURES.— 

8 ‘‘(i) IN GENERAL.—In the case of any 

9 distributions, if such distributions do not 

10 exceed the qualified training expenditures 

11 of the designated beneficiary, no amount 

12 shall be includible in gross income. 

13 ‘‘(ii) COORDINATION WITH OTHER

14 CREDITS AND DEDUCTIONS.—For purposes 

15 of determining the credit allowed under 

16 section 25A or the deduction allowed under 

17 section 222, no distribution under a Life18 long Learning and Training Account pro19 gram shall be included as qualified tuition 

20 and related expenses under such sections. 

21 ‘‘(C) CHANGE IN BENEFICIARIES OR PRO22 GRAMS.— 

23 ‘‘(i) ROLLOVERS.—Subparagraph (A) 

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1 tribution which, within 60 days of such 

2 distribution, is transferred— 

3 ‘‘(I) to another Lifelong Learn4 ing and Training Account program 

5 for the benefit of the designated bene6 ficiary, or 

7 ‘‘(II) to the credit of another des8 ignated beneficiary under a Lifelong 

9 Learning and Training Account pro10 gram who is a member of the family 

11 of the designated beneficiary with re12 spect to which the distribution was 

13 made. 

14 ‘‘(ii) CHANGE IN DESIGNATED BENE15 FICIARIES.—Any change in the designated 

16 beneficiary of an interest in a Lifelong 

17 Learning and Training Account program 

18 shall not be treated as a distribution for 

19 purposes of subparagraph (A) if the new 

20 beneficiary is a member of the family of 

21 the old beneficiary. 

22 ‘‘(iii) LIMITATION ON CERTAIN ROLL23 OVERS.—Clause (i)(I) shall not apply to 

24 any transfer if such transfer occurs within 

25 12 months from the date of a previous 


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1 transfer to any Lifelong Learning and 

2 Training Account program for the benefit 

3 of the designated beneficiary. 

4 ‘‘(iv) MATCHING FUNDS FOR5 FEITED.—In the case of any transfer de6 scribed in clause (i)(II) or any change in 

7 the designated beneficiary of an interest in 

8 a Lifelong Learning and Training Account 

9 program (with the exception of any change 

10 due to the death of the old beneficiary), 

11 any amounts transferred to the account of 

12 the designated beneficiary under subsection 

13 (b)(4), and any earnings thereon, shall be 

14 reduced (but not below zero) by an amount 

15 equal to the total amount transferred to 

16 any account of any other beneficiary. 

17 ‘‘(D) SPECIAL RULE FOR CONTRIBUTIONS

18 OF REFUNDED AMOUNTS.—In the case of a 

19 beneficiary who receives a refund of any quali20 fied training expenditures from any program 

21 described in clauses (i) through (iii) of sub22 section (e)(5)(A), subparagraph (A) shall not 

23 apply to that portion of any distribution for the 

24 taxable year which is recontributed to a Life25 long Learning and Training Account program 


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1 of which such individual is a beneficiary, but 

2 only to the extent such recontribution is made 

3 not later than 60 days after the date of such 

4 refund and does not exceed the refunded 

5 amount. 

6 ‘‘(3) ESTATE TAX TREATMENT.— 

7 ‘‘(A) IN GENERAL.—No amount shall be 

8 includible in the gross estate of any individual 

9 for purposes of chapter 11 by reason of an in10 terest in a Lifelong Learning and Training Ac11 count program. 

12 ‘‘(B) AMOUNTS INCLUDIBLE IN ESTATE OF

13 DESIGNATED BENEFICIARY IN CERTAIN

14 CASES.—Subparagraph (A) shall not apply to 

15 amounts distributed on account of the death of 

16 a beneficiary. 

17 ‘‘(4) OTHER GIFT TAX RULES.—For purposes 

18 of chapters 12 and 13— 

19 ‘‘(A) TREATMENT OF DISTRIBUTIONS.— 

20 Except as provided in subparagraph (B), in no 

21 event shall a distribution from a Lifelong 

22 Learning and Training Account program be 

23 treated as a taxable gift. 

24 ‘‘(B) TREATMENT OF DESIGNATION OF

25 NEW BENEFICIARY.—The taxes imposed by 


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1 chapters 12 and 13 shall apply to a transfer by 

2 reason of a change in the designated beneficiary 

3 under the program (or a rollover to the account 

4 of a new beneficiary) unless the new beneficiary 

5 is— 

6 ‘‘(i) assigned to the same generation 

7 as (or a higher generation than) the old 

8 beneficiary (determined in accordance with 

9 section 2651), and 

10 ‘‘(ii) a member of the family of the 

11 old beneficiary. 

12 ‘‘(5) ADDITIONAL TAX.—The tax imposed by 

13 section 530(d)(4) shall apply to any payment or dis14 tribution from a Lifelong Learning and Training Ac15 count program in the same manner as such tax ap16 plies to a payment or distribution from a Coverdell 

17 education savings account. 

18 ‘‘(d) REPORTS.—Each officer or employee having 

19 control of the Lifelong Learning and Training Account 

20 program or their designee shall make such reports regard21 ing such program to the Secretary and to designated bene22 ficiaries with respect to contributions, transfers, distribu23 tions, and such other matters as the Secretary may re24 quire. The reports required by this subsection shall be filed 

25 at such time and in such manner and furnished to such 


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1 individuals at such time and in such manner as may be 

2 required by the Secretary. 

3 ‘‘(e) OTHER DEFINITIONS AND SPECIAL RULES.— 

4 For purposes of this section— 

5 ‘‘(1) ADMINISTRATOR.—The term ‘adminis6 trator’ means the entity which established the Life7 long Learning and Training Account program and 

8 maintains such program, as described in subsection 

9 (b)(1). 

10 ‘‘(2) APPLICABLE CALENDAR YEAR.—The term 

11 ‘applicable calendar year’ means the calendar year 

12 beginning after the date on which a designated bene13 ficiary attained 60 years of age. 

14 ‘‘(3) DESIGNATED BENEFICIARY.—The term 

15 ‘designated beneficiary’ means— 

16 ‘‘(A) the individual designated at the com17 mencement of participation in the Lifelong 

18 Learning and Training Account program as the 

19 beneficiary of amounts paid (or to be paid) to 

20 the program, or 

21 ‘‘(B) in the case of a change in bene22 ficiaries described in subsection (c)(2)(C), the 

23 individual who is the new beneficiary. 

24 ‘‘(4) MEMBER OF FAMILY.—The term ‘member 

25 of the family’ means an individual— 


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1 ‘‘(A) who has attained 25 years of age, 

2 and 

3 ‘‘(B) who is, with respect to any des4 ignated beneficiary— 

5 ‘‘(i) the spouse of such beneficiary, 

6 ‘‘(ii) an individual who bears a rela7 tionship to such beneficiary which is de8 scribed in subparagraphs (A) through (G) 

9 of section 152(d)(2), 

10 ‘‘(iii) the spouse of any individual de11 scribed in clause (ii), or 

12 ‘‘(iv) any first cousin of such bene13 ficiary. 

14 ‘‘(5) QUALIFIED TRAINING EXPENDITURES.— 

15 ‘‘(A) IN GENERAL.—The term ‘qualified 

16 training expenditures’ means any expenditures 

17 for training which results in the attainment of 

18 a recognized postsecondary credential and 

19 which is provided through— 

20 ‘‘(i) a program of training services 

21 which is listed under section 122(d) of the 

22 Workforce Innovation and Opportunity Act 

23 (29 U.S.C. 3152(d)), 

24 ‘‘(ii) a program which is conducted by 

25 an area career and technical education 


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1 school, a community college, or a labor or2 ganization, or 

3 ‘‘(iii) a program which is sponsored 

4 and administered by an industry trade as5 sociation, industry or sector partnership, 

6 or labor organization. 

7 ‘‘(B) RELATED DEFINITIONS.—For pur8 poses of subparagraph (A)— 

9 ‘‘(i) AREA CAREER AND TECHNICAL

10 EDUCATION SCHOOL.—The term ‘area ca11 reer and technical education school’ means 

12 such a school, as defined in section 3 of 

13 the Carl D. Perkins Career and Technical 

14 Education Act of 2006 (20 U.S.C. 2302), 

15 which participates in a program under that 

16 Act (20 U.S.C. 2301 et seq.). 

17 ‘‘(ii) COMMUNITY COLLEGE.—The 

18 term ‘community college’ means an institu19 tion which— 

20 ‘‘(I) is a junior or community col21 lege as defined in section 312(f) of the 

22 Higher Education Act of 1965 (20 

23 U.S.C. 1058(f)), except that the insti24 tution need not meet the requirements 

25 of paragraph (1) of that section; and 


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1 ‘‘(II) participates in a program 

2 under title IV of that Act (20 U.S.C. 

3 1070 et seq.). 

4 ‘‘(iii) INDUSTRY OR SECTOR PARTNER5 SHIP.—The term ‘industry or sector part6 nership’ has the meaning given such term 

7 under section 3 of the Workforce Innova8 tion and Opportunity Act (29 U.S.C. 

9 3102). 

10 ‘‘(iv) INDUSTRY TRADE ASSOCIA11 TION.—The term ‘industry trade associa12 tion’ means an organization which— 

13 ‘‘(I) is described in paragraph (3) 

14 or (6) of section 501(c) and exempt 

15 from taxation under section 501(a); 

16 and 

17 ‘‘(II) is representing an industry. 

18 ‘‘(v) LABOR ORGANIZATION.—The 

19 term ‘labor organization’ means a labor or20 ganization, within the meaning of the term 

21 in section 501(c)(5). 

22 ‘‘(vi) RECOGNIZED POSTSECONDARY

23 CREDENTIAL.—The term ‘recognized post24 secondary credential’ means a credential 

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1 cate or certification, a license recognized 

2 by the State involved or Federal Govern3 ment, or an associate or baccalaureate de4 gree. 

5 ‘‘(C) EXCLUSION.—The term ‘qualified 

6 training expenditures’ shall not include any 

7 amounts paid for meals, lodging, transpor8 tation, or other services incidental to any train9 ing described in subparagraph (A). 

10 ‘‘(6) APPLICATION OF SECTION 514.—An inter11 est in a Lifelong Learning and Training Account 

12 program shall not be treated as debt for purposes of 

13 section 514. 

14 ‘‘(f) PUBLIC AWARENESS.— 

15 ‘‘(1) IN GENERAL.—The Secretary shall con16 duct a public information campaign, utilizing paid 

17 advertising, to inform the public of the availability of 

18 Lifelong Learning and Training Account programs. 

19 ‘‘(2) AUTHORIZATION OF APPROPRIATIONS.— 

20 ‘‘(A) IN GENERAL.—There is authorized to 

21 be appropriated such sums as are necessary to 

22 carry out this subsection. 

23 ‘‘(B) AVAILABILITY.—Any sums appro24 priated under the authorization contained in 


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1 this subsection shall remain available, without 

2 fiscal year limitation, until expended. 

3 ‘‘(g) REGULATIONS.—Notwithstanding any other 

4 provision of this section, the Secretary shall prescribe such 

5 regulations as may be necessary or appropriate to carry 

6 out the purposes of this section and to prevent abuse of 

7 such purposes, including regulations under chapters 11, 

8 12, and 13 of this title.’’. 

9 (b) CONFORMING AMENDMENTS.— 

10 (1) Section 135(d)(2)(B) of the Internal Rev11 enue Code of 1986 is amended by striking ‘‘sections 

12 529(c)(3)(B) and 530(d)(2)’’ and inserting ‘‘sections 

13 529(c)(3)(B), 530(d)(2), and 531(c)(2)(B)’’. 

14 (2) The table of sections for part VIII of sub15 chapter F of chapter 1 of the Internal Revenue Code 

16 of 1986 is amended by inserting after the item relat17 ing to section 530 the following new item: 

‘‘Sec. 531. Lifelong Learning and Training Account programs.’’. 

18 (c) ADMINISTRATION ASSISTANCE.— 

19 (1) IN GENERAL.—The Secretary of the Treas20 ury, or the Secretary’s delegate (referred to in this 

21 paragraph as the ‘‘Secretary’’), shall make a grant, 

22 in such amount as the Secretary determines appro23 priate, to each State or agency or instrumentality 

24 thereof that has established and maintains a Life25 long Learning and Training Account program under 


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1 section 531 of the Internal Revenue Code of 1986 

2 (as added by subsection (a)), for purposes of admin3 istering such program. 

4 (2) AUTHORIZATION OF APPROPRIATIONS.— 

5 There are authorized to be appropriated such sums 

6 as may be necessary to carry out the purposes of 

7 this subsection. 

8 (d) EFFECTIVE DATE.—The amendments made by 

9 this section shall apply to taxable years beginning after 

10 the date of the enactment of this Act. 

Æ 


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