House Bill 1036 establishes a Lifelong Learning Account Pilot Program. An individual living at or under 300 percent of the federal poverty level would receive matching funds for income deposited in a bank account. That money would be put toward education or training costs or a training program. "As the economic situation worsens, one of the best ways people can get and keep jobs is by increasing their skill sets," said Rep. Thompson. "Everyone should be constantly learning, no matter how long it's been since they've sat in a school classroom. This bill offers adults a chance to improve their standard of living through education, even if they lack the financial resources to do so." House Bill 1036 specifies that money withdrawn from a lifelong learning account would not be subject to state income taxation. Approved programs include those at postsecondary educational institutions and vocational schools as well as training programs that may lead to employment. The funds would be administered by the Indiana Housing and Community Development Authority. The bill authorizes the IHCDA to seek grants and other sources of funds from public and private entities. |
