Deposit Restricted Qualified Tuition Programs Act of 2009

3.0.0 4178 2023-01-11T13:16:09Z 2023-01-11T13:16:09Z House H HR 2009-12-02 111 ssbk00 Banking, Housing, and Urban Affairs Committee Senate Standing Referred to 2010-04-22T15:28:00Z hsba00 Financial Services Committee House Standing Referred to 2009-12-02T15:00:52Z Deposit Restricted Qualified Tuition Programs Act of 2009 111 3599 HR 2009-09-17 Referred to the House Committee on Financial Services. Related bill CRS 2010-04-22 ssbk00 Banking, Housing, and Urban Affairs Committee Senate Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. IntroReferral 2010-04-20 14:21:55 Motion to reconsider laid on the table Agreed to without objection. Floor H38310 2 House floor actions 2010-04-20 14:21:54 On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote. (text: CR H2651) Floor H37300 2 House floor actions 2010-04-20 14:21:54 Passed/agreed to in House: On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote.(text: CR H2651) Floor 8000 9 Library of Congress 2010-04-20 14:10:53 DEBATE - The House proceeded with forty minutes of debate on H.R. 4178. Floor H8D000 2 House floor actions 2010-04-20 14:10:52 Considered under suspension of the rules. (consideration: CR H2651-2654) Floor H30000 2 House floor actions 2010-04-20 14:10:51 Mr. Cleaver moved to suspend the rules and pass the bill, as amended. Floor H30300 2 House floor actions 2009-12-02 Referred to the House Committee on Financial Services. IntroReferral H11100 2 House floor actions hsba00 Financial Services Committee 2009-12-02 Introduced in House IntroReferral Intro-H 9 Library of Congress 2009-12-02 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 2009-12-02 True M001140 Rep. Moore, Dennis [D-KS-3] DENNIS MOORE D KS 3 2009-12-02 True P000583 Rep. Paul, Ron [R-TX-14] RON PAUL R TX 14 2009-12-02 True W000207 Rep. Watt, Melvin L. [D-NC-12] MELVIN WATT D NC 12 2009-12-02 True M001158 Rep. Marchant, Kenny [R-TX-24] Kenny Marchant R TX 24 2009-12-02 True M001147 Rep. McCotter, Thaddeus G. [R-MI-11] Thaddeus McCotter R MI G. 11 2009-12-02 True C001047 Rep. Capito, Shelley Moore [R-WV-2] Shelley Capito R WV Moore 2 2009-12-02 True B000013 Rep. Bachus, Spencer [R-AL-6] SPENCER BACHUS R AL 6 2009-12-02 True J000290 Rep. Jenkins, Lynn [R-KS-2] Lynn Jenkins R KS 2 2009-12-16 False C001049 Rep. Clay, Wm. Lacy [D-MO-1] WM. CLAY D MO LACY 1 2010-04-14 False G000553 Rep. Green, Al [D-TX-9] Al Green D TX 9 2010-04-20 False G000549 Rep. Gerlach, Jim [R-PA-6] Jim Gerlach R PA 6 2010-04-20 False 2010-04-20T04:00:00Z H.R. 4178, Deposit Restricted Qualified Tuition Programs Act of 2009 http://www.cbo.gov/publication/21420 <p>Pay-as-you-go estimate for the bill as introduced on December 2, 2009, and amended on April 20, 2010</p> 2010-04-20T04:00:00Z H.R. 4178, Deposit Restricted Qualified Tuition Programs Act of 2009 https://www.cbo.gov/publication/21420 Pay-as-you-go estimate for the bill as introduced on December 2, 2009, and amended on April 20, 2010 Finance and Financial Sector Bank accounts, deposits, capital Higher education Student aid and college costs Finance and Financial Sector

00 2009-12-02 Introduced in House 2010-01-11T21:09:37Z

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 through the program 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, the state entity designated by statute to oversee such program, or the administrator appointed to operate it on behalf of the state or a participating depository institution, be deemed to be an issuer of a security or an investment company.

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36 2010-04-20 Passed House amended 2010-05-03T20:35:28Z Deposit Restricted Qualified Tuition Programs Act of 2010 - Amends the Federal Deposit Insurance Act to prescribe requirements for deposit restricted qualified tuition programs which are exempt from federal income tax.

Deems a deposit restricted qualified tuition program to be an identified banking product for purposes of the Securities Exchange Act of 1934.

Declares that the budgetary effects of this Act, for the purpose of complying with the Statutory Pay-As-You-Go Act of 2010, shall be determined by reference to the latest statement titled `Budgetary Effects of PAYGO Legislation' for this Act, submitted for printing in the Congressional Record by the Chairman of the Committee on the Budget of the House of Representatives, provided that such statement has been submitted prior to the vote on passage.

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Deposit Restricted Qualified Tuition Programs Act of 2010 Display Title Deposit Restricted Qualified Tuition Programs Act of 2010 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 Short Titles as Passed House Deposit Restricted Qualified Tuition Programs Act of 2010 H House Referred in Senate 2010-04-22T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-111hr4178rfs/xml/BILLS-111hr4178rfs.xml Engrossed in House 2010-04-20T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-111hr4178eh/xml/BILLS-111hr4178eh.xml Introduced in House 2009-12-02T05:00:00Z https://www.govinfo.gov/content/pkg/BILLS-111hr4178ih/xml/BILLS-111hr4178ih.xml 2010-04-22 Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. 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.