STATEHOUSE - If House Bill 1036 is successful, adult Hoosiers would be able to create an account to pursue additional education. State Rep. Jeff Thompson (R-Lizton) co-authored the bill with Rep. Sheila Klinker (D-Lafayette) to create a pilot program for these lifetime learning accounts. "This is the kind of program that has the potential to invigorate our economy by giving out-of-work Hoosiers the training they need to gain employment in new fields," Rep. Thompson said. "When we talk about education being a key element of economic development efforts, we mustn't forget that adults benefit from additional education as well." HB 1036 passed third and final reading in the House on Tuesday. The program would work much like a 529 college-savings plan. Hoosiers will be able to contribute money to an account for post-secondary education and training. The money contributed can be matched by the individual's employer or another entity. Money contributed can be claimed as a tax credit, and money withdrawn is not subject to state income taxes. This week marks the halfway point of the 2009 legislative session. Beginning next week, successful House and Senate bills, such as HB 1036, will switch chambers for consideration. |
