Employee benefit plans Legislation - Federal Government

Lifelong Learning Accounts Act of 2007 - Amends the Internal Revenue Code to: (1) establish a tax-exempt lifelong learning account for the payment of certain employee higher education and training expenses; (2) allow individuals a nonrefundable tax credit for contributions to such accounts; and (3) allow employers a business-related tax credit for contributions to such accounts.

Directs the Secretary of the Treasury to study and report to Congress on such accounts and the tax credits enacted by this Act.

Small Business Child Care Act - Directs the Secretary of Health and Human Services to establish a program to award grants, on a competitive basis, to assist states in providing funds to encourage the establishment and operation of employer-operated child care programs.

Insuring Families for Their Future Act of 2007 - Amends the Internal Revenue Code to increase from $50,000 to $320,000 the amount of employer-provided group term life insurance that an employee can exclude from gross income. Indexes the $320,000 amount for inflation for taxable years beginning after 2007.

Invest USA Act of 2007 - Establishes in the Department of Commerce a United States Direct Investment Administration, headed by an Under Secretary of Commerce for United States Direct Investment.

Requires the Under Secretary to collect, analyze, and report annually to the President and the appropriate congressional committees: (1) on specified data about direct investment in each state and region; and (2) an agenda based on such data and analysis.

Requires the President to establish, and the Under Secretary to assume lead responsibility for, an Interagency United States Direct Investment Promotion Committee.

Amends the Internal Revenue Code (relating to designation of renewal communities) to authorize the Under Secretary to designate an additional 10 nominated areas as renewal communities.

Caregiver Financial Relief Act of 2008 - Amends the Internal Revenue Code to: (1) allow caregivers of family members with long-term care needs a refundable tax credit of $3,000 for up to two such family members each year through 2010; (2) allow in 2009 and 2010 the tax credit for dependent care expenses for parents (or ancestors of such parents) who do not reside with the taxpayer; and (3) allow in 2009 and 2010 an increased exclusion from gross income for employer-provided dependent care assistance.

Lifelong Learning Accounts Act of 2008 - Amends the Internal Revenue Code to: (1) establish tax-exempt lifelong learning accounts to pay certain educational expenses, including tuition, fees, books, supplies, and information technology devices; (2) allow individuals between age 18 and 71 a tax credit for cash contributions to their lifelong learning accounts; and (3) allow employers a tax credit for contributions made to the lifelong learning accounts of their employees and for administrative costs associated with small employer lifelong learning accounts.

Creating Opportunities to Motivate Mass-transit Utilization to Encourage Ridership Act of 2008 or the Commuter Act of 2008 - Amends the Internal Revenue Code to allow employers a refundable tax credit for 50% of the cost of transit passes provided on a tax-free basis to employees.

Employers Financial Literacy Act - Amends the Internal Revenue Code to allow small business taxpayers a tax credit for up to 35% of the costs of providing continuing financial education to their employees. Grants a preference to such small businesses in the awarding of federal contracts or assistance.

Help Kids Save for College Act of 2008 - Amends the Internal Revenue Code to exclude from the gross income of an employee amounts, up to $500, paid by an employer to a qualified college savings assistance plan for a designated beneficiary.