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HR 5314 109th Congress House Taxation Bank accounts Congress Education Education savings accounts Finance and Financial Sector Higher education Home ownership Housing and Community Development Housing finance Income tax Individual retirement accounts Labor and Employment Law Names Sunset legislation Tax exclusion Trusts and trustees

401Kids Family Savings Act of 2006

Introduced: May 18, 2006 See on congress.gov
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This bill died when the 109th Congress ended
It never became law before the 109th Congress (2005–2006) adjourned, and bills don't carry over to the next Congress. It would have to be reintroduced. You can still save it for reference, but it won't receive updates.
 Everywhere this bill has been 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
May 9, 2006
Referred to the House Committee on Ways and Means.
May 9, 2006
Introduced in House
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 Plain-English summary Congressional Research Service

401Kids Family Savings Act of 2006 - Amends the Economic Growth and Tax Relief Reconciliation Act of 2001 to extend through 2015 provisions allowing increased annual contributions to Coverdell education savings accounts.

Amends the Internal Revenue Code to: (1) allow tax-free distributions from a Coverdell education savings account for first-time homebuyer expenses; (2) permit rollovers from Coverdell education savings accounts to Roth individual retirement accounts (Roth IRAs); and (3) rename Coverdell education savings accounts as 401Kids Savings Accounts.

What's happening now May 9, 2006

Referred to the House Committee on Ways and Means.

 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
 Cosponsors 6
All 6 Republican 4
R
Diaz-Balart, Mario
Florida · Jun 16, 2006
PUTNAM, ADAM
· Jun 16, 2006
 R
Blackburn, Marsha
Tennessee · Jun 9, 2006
Brown-Waite, Ginny
· May 18, 2006
 R
Sessions, Pete
Texas · May 18, 2006
 R
Cole, Tom
Oklahoma · May 9, 2006
Cite this page click to expand
APA
U.S. Congress. (2026). H.R. 5314: 401Kids Family Savings Act of 2006. 109th Congress. Open America. https://openamerica.io/bill/109-HR-5314/
MLA
"H.R. 5314: 401Kids Family Savings Act of 2006." 109th Congress, 2026, Open America, https://openamerica.io/bill/109-HR-5314/.
Bluebook (legal)
H.R. 5314, 109th Cong. (2026), https://openamerica.io/bill/109-HR-5314/.
Markdown link
[H.R. 5314: 401Kids Family Savings Act of 2006](https://openamerica.io/bill/109-HR-5314/)
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