3.0.0 2277 2023-01-11T13:19:17Z 2023-01-11T13:19:17Z House H HR 2009-05-06 111 hswm00 Ways and Means Committee House Standing Referred to 2009-05-06T14:03:48Z Savings for Working Families Act of 2009 111 1234 HR 2009-02-26 Referred to the House Committee on Ways and Means. Related bill CRS Savings for Working Families Act of 2009 111 985 S 2009-05-07 Sponsor introductory remarks on measure. (CR S5283-5284) Identical bill CRS 2009-05-06 Referred to the House Committee on Ways and Means. IntroReferral H11100 2 House floor actions hswm00 Ways and Means Committee 2009-05-06 Introduced in House IntroReferral Intro-H 9 Library of Congress 2009-05-06 Introduced in House IntroReferral 1000 9 Library of Congress P000422 Rep. Pomeroy, Earl [D-ND-At Large] EARL POMEROY D ND N P000373 Rep. Pitts, Joseph R. [R-PA-16] JOSEPH PITTS R PA R. 16 2009-05-06 True S001162 Rep. Schwartz, Allyson Y. [D-PA-13] Allyson Schwartz D PA Y. 13 2009-05-06 True B000755 Rep. Brady, Kevin [R-TX-8] KEVIN BRADY R TX 8 2009-05-06 True T000465 Rep. Tsongas, Niki [D-MA-5] Niki Tsongas D MA 5 2009-05-14 False G000544 Rep. Gonzalez, Charles A. [D-TX-20] CHARLES GONZALEZ D TX A. 20 2009-05-21 False Y000033 Rep. Young, Don [R-AK-At Large] DON YOUNG R AK E. 0 2009-06-11 False R000395 Rep. Rogers, Harold [R-KY-5] HAROLD ROGERS R KY 5 2009-06-11 False F000116 Rep. Filner, Bob [D-CA-51] BOB FILNER D CA 51 2009-07-09 False C001068 Rep. Cohen, Steve [D-TN-9] Steve Cohen D TN 9 2009-07-23 False T000326 Rep. Towns, Edolphus [D-NY-10] EDOLPHUS TOWNS D NY 10 2009-09-10 False L000568 Rep. Lee, Christopher J. [R-NY-26] Christopher Lee R NY J. 26 2009-09-24 False G000549 Rep. Gerlach, Jim [R-PA-6] Jim Gerlach R PA 6 2009-12-10 False R000571 Rep. Rehberg, Denny [R-MT-At Large] DENNY REHBERG R MT 0 2009-12-16 False E000092 Rep. Ehlers, Vernon J. [R-MI-3] VERNON EHLERS R MI J. 3 2010-02-23 False M001149 Rep. Michaud, Michael H. [D-ME-2] Michael Michaud D ME H. 2 2010-02-26 False L000287 Rep. Lewis, John [D-GA-5] JOHN LEWIS D GA 5 2010-04-29 False W000800 Rep. Welch, Peter [D-VT-At Large] Peter Welch D VT 0 2010-05-14 False D000096 Rep. Davis, Danny K. [D-IL-7] DANNY DAVIS D IL K. 7 2010-07-30 False H001047 Rep. Himes, James A. [D-CT-4] James Himes D CT A. 4 2010-09-29 False Taxation Bank accounts, deposits, capital Business investment and capital Financial literacy Higher education Housing finance and home ownership Income tax credits Income tax exclusion Indian social and development programs Poverty and welfare assistance Small business Student aid and college costs Tax-exempt organizations Taxation 00 2009-05-06 Introduced in House 2009-05-22T20:59:51Z Savings for Working Families Act of 2009 - Allows certain low-income individuals between age 18 and 61 to establish tax-exempt individual development accounts (IDAs) to pay for certain qualified expenses, including education expenses, first-time homebuyer costs, and business capitalization or expansion costs. Sets forth rules for the establishment, maintenance, and termination of IDAs. Permits tax-free withdrawals from IDAs for qualified expenses, but requires IDA beneficiaries to complete one or more financial education courses prior to making an IDA withdrawal.

Allows certain financial institutions, tax-exempt organizations, and Indian tribes to sponsor and administer IDAs. Amends the Internal Revenue Code to allow such entities a business-related tax credit for the cost of administering IDAs and for making matching contributions to IDAs in parallel accounts.

Provides that IDA amounts shall be disregarded for purposes of determining eligibility for assistance under certain means-tested federal programs.

]]> Savings for Working Families Act of 2009 Display Title Savings for Working Families Act of 2009 Official Title as Introduced To establish and provide for the treatment of Individual Development Accounts, and for other purposes. Introduced in House IH Short Titles as Introduced Savings for Working Families Act of 2009 Introduced in House 2009-05-06T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-111hr2277ih/xml/BILLS-111hr2277ih.xml 2009-05-06 Referred to the House Committee on Ways and Means. text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.