3.0.0 3599 2023-01-11T13:18:04Z 2023-01-11T13:18:04Z House H HR 2009-09-17 111 hsba00 Financial Services Committee House Standing Referred to 2009-09-17T14:06:42Z Deposit Restricted Qualified Tuition Programs Act of 2010 111 4178 HR 2010-04-22 Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. Related bill CRS 2009-09-17 Referred to the House Committee on Financial Services. IntroReferral H11100 2 House floor actions hsba00 Financial Services Committee 2009-09-17 Sponsor introductory remarks on measure. (CR E2305) IntroReferral B00100 9 Library of Congress 2009-09-17 Introduced in House IntroReferral Intro-H 9 Library of Congress 2009-09-17 Introduced in House IntroReferral 1000 9 Library of Congress C001061 Rep. Cleaver, Emanuel [D-MO-5] Emanuel Cleaver D MO 5 N F000339 Rep. Frank, Barney [D-MA-4] BARNEY FRANK D MA 4 2009-09-17 True Finance and Financial Sector Bank accounts, deposits, capital Higher education Student aid and college costs Finance and Financial Sector 00 2009-09-17 Introduced in House 2009-12-01T16:52:46Z 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.

]]> Deposit Restricted Qualified Tuition Programs Act of 2009 Display Title Deposit Restricted Qualified Tuition Programs Act of 2009 Official Title as Introduced To amend the Federal Deposit Insurance Act to provide for deposit restricted qualified tuition programs, and for other purposes. Introduced in House IH Short Titles as Introduced Deposit Restricted Qualified Tuition Programs Act of 2009 Introduced in House 2009-09-17T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-111hr3599ih/xml/BILLS-111hr3599ih.xml 2009-09-17 Referred to the House Committee on Financial Services. 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.