HR 2420
115th Congress
House
Taxation
Bank accounts, deposits, capital
Employee benefits and pensions
Higher education
Income tax exclusion
Student aid and college costs
To amend the Internal Revenue Code of 1986 to provide for tax preferred savings accounts for individuals under age 26, and for other purposes.
Introduced: May 11, 2017
Introduced by:
Rouzer, David
Republican
· North Carolina
See on congress.gov
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
May 11, 2017
Referred to the House Committee on Ways and Means.
May 11, 2017
Introduced in House
Plain-English summary
This bill amends the Internal Revenue Code to establish a tax-preferred individual retirement account for taxpayers under age 26, to be known as a young savers account. The bill treats such accounts as Roth individual retirement accounts for income tax purposes, with the exception of specified modifications to the rules regarding contribution limits.
What's happening now
Referred to the House Committee on Ways and Means.
Committees of jurisdiction
1