Skills Investment Act of 2024

This bill renames Coverdell Education Savings Accounts as Coverdell Lifelong Learning Accounts and expands their eligible uses to include career training, adult education, and skills development programs. It increases the age limit for contributions from 18 to 70, sets a $10,000 balance limit after age 30, and creates a 25% tax credit for employer contributions to these accounts. Beneficiaries can now deduct contributions to these accounts from their taxable income. These changes directly affect individuals with these accounts, their employers, and the IRS in administering these accounts.