S 2478
114th Congress
Senate
Taxation
Financial services and investments
Income tax exclusion
Interest, dividends, interest rates
Securities
State and local taxation
Tax administration and collection, taxpayers
SAVINGS Act
Introduced: February 2, 2016
Introduced by:
Murray, Patty
Democratic
· Washington
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 2, 2016
Read twice and referred to the Committee on Finance.
Feb 2, 2016
Introduced in Senate
Plain-English summary
Save Access to a Valuable Investment Needed to Generate Savings Act of 2016 or the SAVINGS Act
This bill directs the Department of the Treasury to allow: (1) an individual taxpayer to use a portion or all of a tax refund to purchase U.S. savings bonds in paper form for the taxpayer or for any individual designated by the taxpayer; or (2) an option for a tax return that allows for the gifting of such bonds and that serves individuals who rarely, if ever, have held a bank account and individuals who lack access to the Internet.
What's happening now
Read twice and referred to the Committee on Finance.
Committees of jurisdiction
1