HR 87
110th 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 2007
Introduced: January 4, 2007
See on congress.gov
Everywhere this bill has been
4 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Apr 16, 2007
Sponsor introductory remarks on measure. (CR H3384)
Mar 7, 2007
Sponsor introductory remarks on measure. (CR H2273, H2274)
Jan 4, 2007
Referred to the House Committee on Ways and Means.
Jan 4, 2007
Introduced in House
Plain-English summary
401Kids Family Savings Act of 2007 - 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
Sponsor introductory remarks on measure. (CR H3384)
Committees of jurisdiction
1