HR 2021 111th Congress House Taxation Accounting and auditing Capital gains tax Employee benefits and pensions Employment taxes Financial services and investments Higher education Income tax credits Income tax deductions Income tax exclusion Marriage and family status Social security and elderly assistance Student aid and college costs

Savings Recovery Act of 2009

Introduced: April 22, 2009 See on congress.gov

Everywhere this bill has been 6 steps

Introduced

In committee

Reported out

Passed House

Passed Senate

To President

Became law

May 21, 2009

Referred to the Subcommittee on Health, Employment, Labor, and Pensions.

May 21, 2009

Referred to the Subcommittee on Higher Education, Lifelong Learning, and Competitiveness.

Apr 22, 2009

Referred to House Education and Labor

Apr 22, 2009

Referred to the Committee on Ways and Means, and in addition to the Committee on Education and Labor, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.

Apr 22, 2009

Referred to House Ways and Means

Apr 22, 2009

Introduced in House

Plain-English summary Congressional Research Service

Savings Recovery Act of 2009 - Amends title II (Old Age, Survivors, and Disability Insurance) of the Social Security Act to increase the monthly exempt amount for individuals who have employment income and who have not reached full retirement age between 2008 and 2010.

Amends the Internal Revenue Code to: (1) exclude from the gross income of noncorporate taxpayers in 2009 and 2010 dividend income and gain from the sale or exchange of capital assets; (2) increase the limit on the tax deduction for losses from the sale or exchange of capital assets; (3) allow a tax credit for contributions to a qualified tuition program; (4) eliminate the marriage penalty in income limitations for individual retirement account (IRA) contributions; (5) increase the dollar limitation on contributions, including catch-up contributions, to IRAs; and (6) extend through 2012 the suspension of of minimum withdrawal requirements from pension plans.

Amends the Employee Retirement Income Security Act of 1974 (ERISA) to provide special rules in 2009 and 2010 for valuation of assets in defined benefit pension plans.

What's happening now May 21, 2009

Referred to the Subcommittee on Health, Employment, Labor, and Pensions.

Committees of jurisdiction 4