Bill > S1873

This bill establishes a Lifelong Learning and Training Account program, where designated beneficiaries with an adjusted gross income of $75,000 or less can contribute up to $2,000 annually to an account that can be used for qualified workforce training expenses, such as obtaining industry-recognized certificates, licenses, or degrees. The government will provide matching contributions of up to $2,000 annually to these accounts. The program is administered by the Department of Career Services, which is required to submit an annual report on the program's implementation and outcomes. The bill also allows for a personal income tax deduction of up to $2,000 ($4,000 for married couples filing jointly) for contributions made to these accounts.

Budget and Finance

https://malegislature.gov/Bills/193/S1873