similar to the rules of subsections (c), (d), and (e) of section 52 shall apply. . (2) Credit treated as part of general business credit Section 38(b) of such Code is amended by striking plus at the end of paragraph (31), by striking the period at the end of paragraph (32) and inserting , plus , and by adding at the end the following new paragraph: (33) the employee educational skills and development contribution credit determined under section 45T(a). . (3) Clerical amendment The table of sections for subpart D of part IV of subchapter A of chapter 1 of such Code is amended by adding at the end the following new item: Sec. 45T. Employee educational skills and development expenses. . (e) Allowance of deduction for beneficiary (1) In general Part VIII of subchapter B of chapter 1 of the Internal Revenue Code of 1986 is amended by redesignating section 224 as section 225 and by inserting after section 223 the following new section: 224. Coverdell lifelong learning account contributions (a) In general In the case of an individual who— (1) is the designated beneficiary of a Coverdell lifelong learning account (as defined in section 530(b)(1)), and (2) has attained the age of 18 before the close of the taxable year, there shall be allowed as a deduction an amount equal to the contributions for the taxable year by or on behalf of such individual to the account described in paragraph (1). (b) Recontributed amounts No deduction shall be allowed under this section with respect to a rollover contribution described in section 530(d)(5). . (2) Increase in additional tax (A) Increase (i) In general Section 530(d)(4)(A) of the Internal Revenue Code of 1986 is amended by striking 10 percent and inserting 20 percent . (ii) Conforming amendment Section 529(c)(6) of such Code is amended by inserting , except that 10 percent shall be substituted for 20 percent in subparagraph (A) thereof before the period at the end of the first sentence. (B) Modification of tax treatment of deductible contributions Paragraph (1) of section 530(d)