H.R. 1125 · 114th Congress
Start Saving Sooner Act of 2015
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Never voted on. It didn't reach a floor vote before the 114th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
R
HannaSponsor10 cosponsors · 3 D, 7 R
D
Kind
EB
D
Blumenauer
JD
R
Duncan
RD
R
Davis
LM
R
Messer
RW
R
Wittman
JD
D
Delaney
JF
R
Fortenberry
DJ
R
Jolly
FU
R
Upton1 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
Amends the Internal Revenue Code to establish a tax-exempt individual retirement account for taxpayers under age 18, to be known as a young savers account. Treats such accounts as Roth individual retirement accounts for income tax purposes. Allows the tax credit for retirement savings for contributions to a young savers account.
What it does: CRS summary · Introduced in House · Feb 26, 2015
Start Saving Sooner Act of 2015
Amends the Internal Revenue Code to establish a tax-exempt individual retirement account for taxpayers under age 18, to be known as a young savers account. Treats such accounts as Roth individual retirement accounts for income tax purposes. Allows the tax credit for retirement savings for contributions to a young savers account. Directs the Secretary of the Treasury to pay any overpayment of tax that is attributable to the tax credit for retirement savings to the taxpayer's young savers account.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Start Saving Sooner Act of 2015
Latest action (Feb 26, 2015): Referred to the House Committee on Ways and Means.
Policy area: Taxation · Origin: House · Introduced: Feb 26, 2015
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.