VotedBy VotedBy ⌕
Election Day · Tue, Nov 3See how your members of Congress voted →

H.R. 3374 · 113th Congress

American Savings Promotion Act

Law · 113-251 · Dec 18, 2014
Key: what the circles and colors mean

Each circle is a bill. The ring fills as it moves through Congress:

IntroducedPassed one chamberPassed both chambersBecame law (gold)Resolution agreed to (full, dark)Failed or vetoed (gray)

Under the number: the Yea · Nay count of its final (or latest) recorded vote. On a member's page, the small badge is how that member voted: Y Yea / Aye, N Nay / No, P Present, – Not voting.

Gold and violet are only for Yea and Nay; they never mean a party. A member's party is the letter on their photo.

Became law without a recorded vote. It passed by voice vote or unanimous consent, which don't record how each member voted.

  1. House Introduced Oct 29, 2013
  2. House Passed Sep 15, 2014
  3. Senate Passed Dec 10, 2014
  4. President To the President Dec 12, 2014
  5. President Signed Dec 18, 2014
  6. Law Dec 18, 2014

American Savings Promotion Act - Amends the Revised Statutes of the United States, the Federal Reserve Act, the Federal Deposit Insurance Act, and the Home Owners' Loan Act to authorize covered financial institutions to conduct a contest, known as a "savings promotion raffle," in which the sole consideration required for a chance of winning designated…

What it does: CRS summary · Public Law · Dec 18, 2014

(This measure has not been amended since it was passed by the House on September 15, 2014. The summary of that version is repeated here.)

American Savings Promotion Act - Amends the Revised Statutes of the United States, the Federal Reserve Act, the Federal Deposit Insurance Act, and the Home Owners' Loan Act to authorize covered financial institutions to conduct a contest, known as a "savings promotion raffle," in which the sole consideration required for a chance of winning designated prizes is obtained by the deposit of a specified amount of money in a savings account or program, where each ticket or entry has an equal chance of being drawn. Subjects such drawing contest to regulations promulgated by the appropriate prudential regulator.

Excludes such "savings promotion raffle" from the prohibition against a covered financial institution's dealing in "lottery" tickets.

Amends the federal criminal code to exempt: (1) savings promotion raffles conducted by an insured depository institution or an insured credit union from specified prohibitions against interstate and foreign travel or transportation in aid of racketeering enterprises, and (2) any savings promoton raffle from the prohibition against illegal gambling businesses.

Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov

About this bill and sources

Official title: American Savings Promotion Act

Latest action (Dec 18, 2014): Became Public Law No: 113-251.

Policy area: Finance and Financial Sector · Origin: House · Introduced: Oct 29, 2013

Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)

  1. House Introduced Oct 29, 2013
  2. House Passed Sep 15, 2014
  3. Senate Passed Dec 10, 2014
  4. President To the President Dec 12, 2014
  5. President Signed Dec 18, 2014
  6. Law Dec 18, 2014

No recorded floor vote found.