HR 1125
114th Congress
House
Taxation
Employee benefits and pensions
Income tax credits
Income tax exclusion
Start Saving Sooner Act of 2015
Introduced: February 26, 2015
See on congress.gov
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Feb 26, 2015
Referred to the House Committee on Ways and Means.
Feb 26, 2015
Introduced in House
Plain-English summary
Start Saving Sooner Act of 2015
Amends the Internal Revenue Code to establish a tax-exempt individual retirement account for taxpayers under age 18, to be known as a young savers account. Treats such accounts as Roth individual retirement accounts for income tax purposes. Allows the tax credit for retirement savings for contributions to a young savers account. Directs the Secretary of the Treasury to pay any overpayment of tax that is attributable to the tax credit for retirement savings to the taxpayer's young savers account.
What's happening now
Referred to the House Committee on Ways and Means.
Committees of jurisdiction
1
Cosponsors
1