Skip to main content
HR 3599 111th Congress House Finance and Financial Sector Bank accounts, deposits, capital Higher education Student aid and college costs

Deposit Restricted Qualified Tuition Programs Act of 2009

Introduced: September 17, 2009 Introduced by: Cleaver, Emanuel Democratic · Missouri See on congress.gov
Sign in to write a letter Sign in to watch
This bill died when the 111th Congress ended
It never became law before the 111th Congress (2009–2010) 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 3 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Sep 17, 2009
Referred to the House Committee on Financial Services.
Sep 17, 2009
Sponsor introductory remarks on measure. (CR E2305)
Sep 17, 2009
Introduced in House
 Ask about this bill AI · grounded in the bill text

Have a question about what this bill does? Ask in plain English; the answer is drawn from the bill's actual text and official record, and it'll tell you when something isn't in the text rather than guess.

AI answers can be imperfect; always confirm against the full bill text.

 Plain-English summary Congressional Research Service

Deposit Restricted Qualified Tuition Programs Act of 2009 - Amends the Federal Deposit Insurance Act to prescribe requirements for deposit restricted qualified tuition programs which are exempt from federal income tax.

Defines such a program as one in which: (1) the cash provided to it by a contributor may be invested only in deposits insured by the Federal Deposit Insurance Corporation (FDIC); (2) the contributor may become a participant in the program by depositing funds into an account at a depository institution participating in the program; and (3) the program may include multiple depository institutions.

Deems a deposit restricted qualified tuition program to be an identified banking product for purposes of the Securities Exchange Act of 1934.

Denies treatment as a security under the Securities Act of 1933, the Securities Exchange Act of 1934, or the Investment Company Act of 1940 of: (1) the investment of cash in deposits at an insured depository institution through a deposit restricted qualified tuition program; (2) any certificate of deposit or other instrument evidencing any such deposit; or (3) any participation by a contributor to a deposit restricted qualified tuition program.

Declares that in no event shall a deposit restricted qualified tuition program be deemed to be an issuer of a security or an investment company.

What's happening now September 17, 2009

Referred to the House Committee on Financial Services.

 Related & companion bills 1
  • HR 4178 Related bill Deposit Restricted Qualified Tuition Programs Act of 2010
 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
Cite this page click to expand
APA
U.S. Congress. (2026). H.R. 3599: Deposit Restricted Qualified Tuition Programs Act of 2009. 111th Congress. Open America. https://openamerica.io/bill/111-HR-3599/
MLA
"H.R. 3599: Deposit Restricted Qualified Tuition Programs Act of 2009." 111th Congress, 2026, Open America, https://openamerica.io/bill/111-HR-3599/.
Bluebook (legal)
H.R. 3599, 111th Cong. (2026), https://openamerica.io/bill/111-HR-3599/.
Markdown link
[H.R. 3599: Deposit Restricted Qualified Tuition Programs Act of 2009](https://openamerica.io/bill/111-HR-3599/)
Report a problem