,i  #aaf? ,,congress  #a/ ,session  ,h4 
,r4 #hih  ,,9 ,,! ,,h\se ,,(            
,,repres5tatives  ,janu>y #cj1 #bjai,mr4
 ,kilm] 7= himself1 ,mr4 ,?ompson (     
,p5nsylvania1 ,mr4 ,pet]s1 ,mr4         
,fitzpatrick1 ,mr4 ,posey1 ,miss ,rice (
 ,new ,york1 ,mrs4 ,luria1 & ,ms4 ,ku/] 
( ,new ,hamp%ire7 introduc$ ! foll[+    
bill2 :i* 0 ref]r$ to ! ,committee on   
,ways & ,means  ,a ,,bill  ,to am5d !   
,int]nal ,rev5ue ,code ( #aihf to       
provide = lifelong le>n+ acc\nts1 & =   
o!r purposes4  #a4 ,%ort title ,?is ,act
 may be cit$ z ! ,skills ,inve/m5t ,act 
( #bjai4  #b4 ,cov]dell lifelong le>n+  
acc\nts  7a7 ,9 g5]al  7#a7 ,r5am+ (    
,cov]dell education sav+s acc\nts       
,section #ecj ( ! ,int]nal ,rev5ue ,code
 ( #aihf is am5d$--  7,a7 by /rik+      
,cov]dell education sav+s acc\nt ea*    
place x appe>s & ins]t+ ,cov]dell       
lifelong le>n+ acc\nt2 &  7,b7 by /rik+ 
,cov]dell education sav+s acc\nts 9 !   
head+ & ins]t+ ,cov]dell lifelong le>n+ 
acc\nts4  7#b7 ,con=m+ am5dm5ts  7,a7   

,section #bf7;b77#b77;,e7 ( ! ,int]nal  
,rev5ue ,code ( #aihf is am5d$ by /rik+ 
,cov]dell education sav+s acc\nts &     
ins]t+ ,cov]dell lifelong le>n+ acc\nts4
  7,b7 ,section #gb7;e77#i7 ( su* ,code 
is am5d$--  7i7 by /rik+ ,cov]dell      
education sav+s acc\nt & ins]t+         
,cov]dell lifelong le>n+ acc\nt2 &  7ii7
 by /rik+ ,cov]dell education sav+s     
acc\nt 9 ! head+ & ins]t+ ,cov]dell     
lifelong le>n+ acc\nt4  7,c7 ,section   
#ace7;c77#b77;,c7 ( su* ,code is am5d$--
 7i7 by /rik+ ,cov]dell education sav+s 
acc\nt & ins]t+ ,cov]dell lifelong le>n+
 acc\nt2 &  7ii7 by /rik+ ,cov]dell     
education sav+s acc\nt 9 ! head+ &      
ins]t+ ,cov]dell lifelong le>n+ acc\nt4 
7,d7 ,section #djh;,a7e77#b77;,a77ii7 ( 
su* ,code is am5d$ by /rik+ ,cov]dell   
education sav+s acc\nt & ins]t+         
,cov]dell lifelong le>n+ acc\nt4  7,e7  
,section #ebi7;c7 ( su* ,code is am5d$--
 7i7 by /rik+ ,cov]dell education sav+s 
acc\nts 9 ! head+ ( p>agraph            
7#c77;,b77vi7 & ins]t+ ,cov]dell        

lifelong le>n+ acc\nt2 &  7ii7 by /rik+ 
an ,cov]dell education sav+s acc\nt 9   
p>agraph 7#f7 & ins]t+ a ,cov]dell      
lifelong le>n+ acc\nt4  7,f7 ,section   
#hgg;,a7e77#b7 ( su* ,code is am5d$ by  
/rik+ ,cov]dell education sav+s acc\nt &
 ins]t+ ,cov]dell lifelong le>n+ acc\nt4
  7,g7 ,section #digc ( su* ,code is    
am5d$-- 7i7 by /rik+ ,cov]dell education
 sav+s acc\nt ea* place x appe>s 9      
subsections 7a77#d7 & 7e77#b77;,a7 &    
ins]t+ ,cov]dell lifelong le>n+ acc\nt2 
7ii7 by /rik+ ,cov]dell education sav+s 
acc\nts 9 subsection 7e77#a7 & ins]t+   
,cov]dell lifelong le>n+ acc\nts2 &     
7iii7 by /rik+ ,cov]dell education sav+s
 acc\nts 9 ! head+ ( subsection 7e7 &   
ins]t+ ,cov]dell lifelong le>n+ acc\nt4 
7,h7 ,section #dige ( su* ,code is      
am5d$-- 7i7 by /rik+ ,cov]dell education
 sav+s acc\nt ea* place x appe>s 9      
subsections 7c77#e7 & 7e77#a77;,f7 &    
ins]t+ ,cov]dell lifelong le>n+ acc\nt2 
&  7ii7 by /rik+ ,cov]dell education    
sav+s acc\nts 9 ! head+ ( subsection    

7c77#e7 & ins]t+ ,cov]dell lifelong     
le>n+ acc\nts4  7,i7 ,section           
#ffic7;a77#b77;,f7 ( su* ,code is am5d$ 
by /rik+ ,cov]dell education sav+s      
acc\nts & ins]t+ ,cov]dell lifelong     
le>n+ acc\nts4  7,j7 ,! table ( sections
 = "p ,,viii ( sub*apt] ,f ( *apt] #a ( 
su* ,code is am5d$ by /rik+ ,cov]dell   
education sav+s acc\nts & ins]t+        
,cov]dell lifelong le>n+ acc\nts4  7#c7 
,treatm5t ( exi/+ acc\nts ,= purposes ( 
section #ecj7;b77#a7 ( ! ,int]nal       
,rev5ue ,code ( #aihf1 any acc\nt       
e/abli%$ be=e ,janu>y #a1 #bjai1 &      
designat$ z a ,cov]dell education sav+s 
acc\nt %all be deem$ to h be5 designat$ 
z a ,cov]dell lifelong le>n+ acc\nt4    
7b7 ,exp&$ use ( acc\nts  7#a7 ,eligible
 exp5ses  7,a7 ,9 g5]al ,section        
#ecj7;b77#b77;,a7 ( ! ,int]nal ,rev5ue  
,code ( #aihf is am5d$ by /rik+ & at !  
end ( clause 7i71 by /rik+ ! p]iod at ! 
end ( clause 7ii7 & ins]t+ 1 &1 & by    
add+ at ! end ! foll[+ new clause3      
7iii7 qualifi$ educational or skill     

developm5t exp5ses 7z def9$ 9 p>agraph  
7#e774  4  7,b7 ,qualifi$ educational or
 skill developm5t exp5ses ,section      
#ecj7;b7 ( su* ,code is am5d$ by add+ at
 ! end ! foll[+ new p>agraph3  7#e7     
,qualifi$ educational or skill          
developm5t exp5ses ,! t]m qualifi$      
educational or skill developm5t exp5ses 
means--  7,a7 exp5ses paid or incurr$-- 
7i7 aft] ! b5efici>y atta9s age #af1 &  
7ii7 = p>ticipation or enrollm5t ( !    
b5efici>y 9 s]vices or activities t     
are-- 7,i7 tra9+ s]vices describ$ 9     
section #acd7;c77#c77;,d7 ( ! ,work=ce  
,innovation & ,opportunity ,act 7#bi    
,u4,s4,c4 #cagd7;c77#c77;,d77 t are (f]$
 by a provid] includ$ on ! li/ (        
eligible provid]s ( tra9+ s]vices       
describ$ 9 section #abb ( su* ,act 7#bi 
,u4,s4,c4 #caeb71  7,,ii7 c>e] &        
te*nical education activities def9$ 9   
section #c ( ! ,c>l ,d4 ,p]k9s ,c>e] &  
,te*nical ,education ,act ( #bjjf 7#bj  
,u4,s4,c4 #bcjb7 t are (f]$ ?r\gh an    
eligible in/itution 7z def9$ 9 su*      

section71  7,,iii7 c>e] s]vices describ$
 9 clauses 7iii71 7iv71 & 7xi7 ( section
 #acd7;c77#b77;,a7 ( ! ,work=ce         
,innovation & ,opportunity ,act 7#bi    
,u4,s4,c4 #cagd7;c77#b77;,a77 t are     
provid$ by provid]s eligible "u section 
#acd7;c77#b77;,c7 ( su* ,act1  7,,iv7   
y\? activities describ$ 9 section       
#abi7;c77#b7 ( ! ,work=ce ,innovation & 
,opportunity ,act 7#bi ,u4,s4,c4        
#cafd7;c77#b77 t are provid$ by eligible
 provid]s ( y\? work=ce inve/m5t        
activities "u section #abc ( su* ,act1  
or  7,v7 adult education & lit]acy      
activities1 z def9$ 9 section #bjc ( !  
,adult ,education & ,family ,lit]acy    
,act 7#bi ,u4,s4,c4 #cbgb71 t are       
provid$ by eligible provid]s ( adult    
education & lit]acy activities "u       
section #bca ( su* ,act 7#bi ,u4,s4,c4  
#ccba71  7,b7 exp5ses = transportation  
requir$ = or provid$ by any ( ! s]vices 
or activities describ$ 9 subp>agraph    
7,a71  7,c7 exp5ses = te/+ necess>y =   
enrollm5t 91 or c]tification 9          

connection )1 s]vices or activities     
describ$ 9 subp>agraph 7,a71 or  7,d7   
exp5ses = ! pur*ase ( any comput]       
te*nology or equipm5t 7z def9$ 9 section
 #agj7;e77#f77;,f77i77 or int]net access
 & relat$ s]vices1 if su* te*nology1    
equipm5t1 or s]vices are to be us$ by ! 
b5efici>y = s]vices or activities       
describ$ 9 subp>agraph 7,a7 dur+ any ( !
 ye>s ! b5efici>y is p>ticipat+ 9 or    
enroll$ 9 any ( ! s]vices or activities 
describ$ 9 subp>agraph 7,a74  4  7c7    
,modification ( rules relat+ to age     
re/rictions & contributions  7#a7       
#aj1jjj acc\nt limit aft] age #cj  7,a7 
,9 g5]al ,subp>agraph 7,e7 ( section    
#ecj7;b77#a7 ( ! ,int]nal ,rev5ue ,code 
( #aihf is am5d$ by ins]t+ 9 excess (   
#aj1jjj aft] any balance to ! cr$it ( ! 
designat$ b5efici>y4  7,b7 ,contribution
 limit ,p>agraph 7#a7 ( section         
#ecj7;b77#a7 ( su* ,code is am5d$ by    
/rik+ or at ! end ( clause 7ii71 by     
/rik+ ! p]iod at ! end ( clause 7iii7 & 
ins]t+ 1 or1 & by add+ at ! end ! foll[+

 new clause3  7iv7 9 ! case ( a         
b5efici>y :o is ov] ! age ( #cj1 if su* 
contribution w\ld result 9 ! balance ( !
 acc\nt exce$+ #aj1jjj4  4  7#b7        
,increas$ age limit = contributions     
,clause 7ii7 ( section #ecj7;b77#a77;,a7
 ( ! ,int]nal ,rev5ue ,code ( #aihf is  
am5d$ by /rik+ age #ah & ins]t+ age #gj4
  7#c7 ,increas$ contribution limitation
 = individuals ov] age #cj  7,a7 ,9     
g5]al ,section #ecj7;b77#a77;,a77iii7 ( 
! ,int]nal ,rev5ue ,code ( #aihf is     
am5d$ by ins]t+ 7#d1jjj 9 ! case ( an   
acc\nt ! designat$ b5efici>y ( :i* has  
atta9$ age ( #cj be=e ! end ( ! taxable 
ye>7 aft] #b1jjj4  7,b7 ,con=m+ am5dm5t 
,section #digc7;e77#a77;,a7 ( su* ,code 
is am5d$ by /rik+ #b1jjj & ins]t+ !     
limitation applicable "u section        
#ecj7;b77#a77;,a77iii74  7#d7 ,no *ange 
9 b5efici>y aft] age #cj ,p>agraph 7#f7 
( section #ecj7;d7 ( ! ,int]nal ,rev5ue 
,code ( #aihf is am5d$ by /rik+ %all n  
be treat$ z a di/ribution = purposes (  
p>agraph 7#a7 if ! new b5efici>y &      

ins]t+  %all n be treat$ z a di/ribution
 = purposes ( p>agraph 7#a7 if-- 7,a7 ! 
old b5efici>y has n atta9$ age #cj be=e 
! date ( ! *ange 9 b5efici>y1 &  7,b7 ! 
new b5efici>y  4  7d7 ,cr$it = employ]  
contributions  7#a7 ,9 g5]al ,subp>t ,d 
( "p ,,iv ( sub*apt] ,a ( *apt] #a ( !  
,int]nal ,rev5ue ,code ( #aihf is am5d$ 
by add+ at ! end ! foll[+ new section3  
#de,t4 ,employee educational skills &   
developm5t exp5ses  7a7 ,g5]al rule ,=  
purposes ( section #ch1 ! employee      
educational skills & developm5t         
contribution cr$it det]m9$ "u ?is       
section = any taxable ye> is #be p]c5t (
 ! nonelective contributions made by !  
taxpay] dur+ ! taxable ye> to a         
,cov]dell lifelong le>n+ acc\nt 7z def9$
 9 section #ecj7;b77 ! designat$        
b5efici>y ( :i* is an employee ( !      
taxpay]4  7b7 ,special rules &          
def9itions ,= purposes ( ?is section--  
7#a7 ,employee  7,a7 ,c]ta9 employees   
exclud$ ,! t]m employee %all n include--
  7i7 an employee )9 ! mean+ ( section  

#dja7;c77#a71  7ii7 any #b-p]c5t        
%>ehold] 7z def9$ 9 section #acgb7;b77 (
 an ,s corporation1  7iii7 any #e-p]c5t 
own] 7z def9$ 9 section                 
#daf7;i77#a77;,b77i77 ( taxpay]1 or     
7iv7 any individual :o be>s any ( !     
relation%ips describ$ 9 subp>agraphs    
7,a7 ?r\gh 7,g7 ( section #aeb7;d77#b7  
to1 or is a dep5d5t describ$ 9 section  
#aeb7;d77#b77;,h7 (1 an individual      
describ$ 9 clause 7i71 7ii71 or 7iii74  
7,b7 ,leas$ employees ,! t]m employee   
%all include a leas$ employee )9 ! mean+
 ( section #dad7n74  7#b7 ,nonelective  
contribution ,! t]m nonelective         
contribution means an employ]           
contribution o!r ?an an employ]         
contribution pursuant to a sal>y        
r$uction arrangem5t4  7#c7 ,aggregation 
& o!r rules made applicable  7,a7       
,aggregation rules ,all employ]s treat$ 
z a s+le employ] "u subsection 7b71 7c71
 7m71 or 7o7 ( section #dad %all be     
treat$ z a s+le employ] = purposes ( ?is
 section4  7,b7 ,o!r rules ,rules simil>

 to ! rules ( subsections 7c71 7d71 &   
7e7 ( section #eb %all apply4  4  7#b7  
,cr$it treat$ z "p ( g5]al bus9ess cr$it
 ,section #ch7;b7 ( su* ,code is am5d$  
by /rik+ plus at ! end ( p>agraph 7#ca71
 by /rik+ ! p]iod at ! end ( p>agraph   
7#cb7 & ins]t+ 1 plus1 & by add+ at !   
end ! foll[+ new p>agraph3  7#cc7 !     
employee educational skills & developm5t
 contribution cr$it det]m9$ "u section  
#de,t7a74  4  7#c7 ,cl]ical am5dm5t ,!  
table ( sections = subp>t ,d ( "p ,,iv (
 sub*apt] ,a ( *apt] #a ( su* ,code is  
am5d$ by add+ at ! end ! foll[+ new     
item3  ,sec4 #de,t4 ,employee           
educational skills & developm5t exp5ses4
  4  7e7 ,all[ance ( d$uction =         
b5efici>y  7#a7 ,9 g5]al ,"p ,,viii (   
sub*apt] ,b ( *apt] #a ( ! ,int]nal     
,rev5ue ,code ( #aihf is am5d$ by       
r$esignat+ section #bbd z section #bbe &
 by ins]t+ aft] section #bbc ! foll[+   
new section3  #bbd4 ,cov]dell ,lifelong 
le>n+ acc\nt contributions  7a7 ,9 g5]al
 ,9 ! case ( an individual :o-- 7#a7 is 

! designat$ b5efici>y ( a ,cov]dell     
lifelong le>n+ acc\nt 7z def9$ 9 section
 #ecj7;b77#a771 &  7#b7 has atta9$ ! age
 ( #ah be=e ! close ( ! taxable ye>1    
!re %all be all[$ z a d$uction an am\nt 
equal to ! contributions = ! taxable ye>
 by or on behalf ( su* individual to !  
acc\nt describ$ 9 p>agraph 7#a74  7b7   
,recontribut$ am\nts ,no d$uction %all  
be all[$ "u ?is section ) respect to a  
rollov] contribution describ$ 9 section 
#ecj7;d77#e74  4  7#b7 ,increase 9      
additional tax  7,a7 ,increase  7i7 ,9  
g5]al ,section #ecj7;d77#d77;,a7 ( !    
,int]nal ,rev5ue ,code ( #aihf is am5d$ 
by /rik+ #aj p]c5t & ins]t+ #bj p]c5t4  
7ii7 ,con=m+ am5dm5t ,section           
#ebi7;c77#f7 ( su* ,code is am5d$ by    
ins]t+ 1 except t #aj p]c5t %all be     
sub/itut$ = #bj p]c5t 9 subp>agraph 7,a7
 !re( be=e ! p]iod at ! end ( ! fir/    
s5t5ce4  7,b7 ,modification ( tax       
treatm5t ( d$uctible contributions      
,p>agraph 7#a7 ( section #ecj7;d7 is    
am5d$ to read z foll[s3  7#a7 ,inclusion

 9 gross income  7,a7 ,9 g5]al ,any     
di/ribution %all be includible 9 ! gross
 income ( ! di/ributee z foll[s3  7i7 ,s
 mu* ( ! di/ribution z is equal to or   
less ?an ! d$uctible am\nt %all be fully
 includ$ 9 gross income4  7ii7 ,s mu* ( 
! di/ribution :i* exce$s ! d$uctible    
am\nt %all be includ$ 9 gross income 9 !
 mann] z provid$ 9 section #gb 7det]m9$ 
by apply+ su* section )\t reg>d to any  
am\nts to :i* clause 7i7 applies74  7,b7
 ,d$uctible am\nt ,= purposes ( ?is     
p>agraph1 ! t]m d$uctible am\nt means ! 
excess (-- 7i7 ! sum ( contributions to 
! acc\nt = :i* a d$uction 0 all[$ "u    
section #bbd 9 su* ye> & any prec$+     
taxable ye>1 ov]  7ii7 ! am\nt (        
di/ributions to :i* subp>agraph 7,a77i7 
appli$ to 9 any prec$+ taxable ye>4  4  
7#c7 ,cl]ical am5dm5t ,! table (        
sections = "p ,,viii ( sub*apt] ,b (    
*apt] #a ( su* ,code is am5d$ by        
r$esignat+ ! item relat+ to section #bbd
 z relat+ to section #bbe & by ins]t+   
aft] ! item relat+ to section #bbc !    

foll[+ new item3  ,sec4 #bbd4 ,cov]dell 
lifelong le>n+ acc\nt contributions4  4 
7f7 ,effective date  7#a7 ,9 g5]al      
,except z o!rwise provid$ 9 ?is         
subsection1 ! am5dm5ts made by ?is      
section %all take effect on ,janu>y #a1 
#bjai4  7#b7 ,eligible exp5ses ,!       
am5dm5ts made by subsection 7b7 %all    
apply to di/ributions made aft] ,decemb]
 #ca1 #bjai4  7#c7 ,contributions ,!    
am5dm5ts made by p>agraphs 7#a77;,b7 &  
7#b7 ( subsection 7c7 %all apply to     
contributions made aft] ,decemb] #ca1   
#bjai4  7#d7 ,employ] contribution cr$it
 & b5efici>y d$uctions ,! am5dm5ts made 
by subsections 7d7 & 7e7 %all apply to  
taxable ye>s beg9n+ aft] ,decemb] #ca1  
#bjai4