H.R. 4236 · 114th Congress
Financial Security Credit 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.
D
SerranoSponsor17 cosponsors · 17 D
D
Crowley
YC
D
Clarke
MC
D
Cartwright
RD
D
DeLauro
KE
D
Ellison
AH
D
Hastings
RH
D
Hinojosa
HJ
D
Jeffries
BL
D
Luján
ML
D
Lujan Grisham
GM
D
Meng
RN
D
Nolan
PP
D
Pierluisi
LR
D
Roybal-Allard
NV
D
Velázquez
JV
D
Vargas
CR
D
Richmond16 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
This bill amends the Internal Revenue Code to allow an income-based tax credit equal to the lesser of $500 or 50% of the total amount deposited or contributed into designated savings products in a taxable year (financial security credit).
What it does: CRS summary · Introduced in House · Dec 10, 2015
Financial Security Credit Act of 2015
This bill amends the Internal Revenue Code to allow an income-based tax credit equal to the lesser of $500 or 50% of the total amount deposited or contributed into designated savings products in a taxable year (financial security credit). A "designated savings product" is a qualified retirement plan, a qualified tuition plan, a Coverdell education savings account, a U.S. savings bond, a certificate of deposit with a duration of at least eight months, a savings account, or other savings product considered appropriate by the Department of the Treasury.
The Internal Revenue Service must notify individual taxpayers who may qualify for a financial security credit that they have the option of an electronic direct deposit if they deposit any portion of their tax refund into a designated savings product.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Financial Security Credit Act of 2015
Latest action (Dec 10, 2015): Referred to the House Committee on Ways and Means.
Policy area: Taxation · Origin: House · Introduced: Dec 10, 2015
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.