H.R. 4939 · 108th Congress
America Saving for Personal Investment, Retirement, and Education Act of 2004
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Never voted on. It didn't reach a floor vote before the 108th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
D
FordSponsor3 cosponsors · 1 D, 2 R
3 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
America Saving for Personal Investment, Retirement, and Education Act of 2004, or the ASPIRE Act of 2004 - Establishes a KIDS Account Fund (KIDS) in the Treasury.
What it does: CRS summary · Introduced in House · Jul 22, 2004
America Saving for Personal Investment, Retirement, and Education Act of 2004, or the ASPIRE Act of 2004 - Establishes a KIDS Account Fund (KIDS) in the Treasury.
Establishes within the KIDS Account Fund a Kids Investment and Development Savings Account (KIDS Account). Provides that a U.S. citizen born after December 31, 2005, and under 18 years of age, whose modified adjusted gross income is below the applicable national median adjusted gross income amount, is eligible to contribute to such account and to receive a matching Federal contribution.
Establishes the KIDS Account Fund Board to establish a default investment program under which, in a manner similar to a lifecycle investment program, sums in each KIDS Account are allocated to investment funds in the KIDS Account Fund based on the amount of time before the account holder attains the age of 18.
Subjects the Board to the same statutory composition requirements, duties, and responsibilities as the Federal Retirement Thrift Investment Board.
Instructs the Secretary of the Treasury, in coordination with the Financial Literacy and Education Commission, to develop programs to promote the financial literacy of account holders of KIDS Accounts.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: America Saving for Personal Investment, Retirement, and Education Act of 2004
Also known as: ASPIRE Act of 2004
Latest action (Jul 22, 2004): Referred to the House Committee on Ways and Means.
Policy area: Taxation · Origin: House · Introduced: Jul 22, 2004
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.