Skills Investment Act of 2025 amends the Internal Revenue Code to rename and expand Coverdell Education Savings Accounts to Coverdell Lifelong.
The Skills Investment Act of 2025 amends the Internal Revenue Code to rename Coverdell Education Savings Accounts as Coverdell Lifelong Learning Accounts. These accounts now cover educational and skill development expenses for beneficiaries aged 16 and older. The accounts allow for contributions up to age 70, with a $4,000 limit for beneficiaries over 30. The bill also introduces a tax credit for employer contributions to these accounts and modifies the tax treatment of distributions. Effective January 1, 2026, existing accounts will be treated as lifelong learning accounts.
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