3.0.0 6757 2023-01-11T13:41:34Z 2023-01-11T13:41:34Z House HR 2018-09-10 115 [Congressional Record Volume 164, Number 150 (Monday, September 10, 2018)]From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]By Mr. KELLY of Pennsylvania:H.R. 6757.Congress has the power to enact this legislation pursuantto the following:Article I, Section 8, Clause 1 of the Constitution of theUnited States.[Page H8107]]]> ssfi00 Finance Committee Senate Standing Referred to 2018-09-28T21:32:38Z hsed00 Education and the Workforce Committee House Standing Discharged from 2018-09-24T15:14:17Z Referred to 2018-09-10T19:31:35Z hswm00 Ways and Means Committee House Standing Reported by 2018-09-24T15:13:57Z Markup by 2018-09-13T21:30:49Z Referred to 2018-09-10T19:31:30Z H. Rept. 115-959 Retirement Security for American Workers Act 115 854 HR 2017-02-03 Referred to the Committee on Education and the Workforce, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Related bill CRS Retirement Security Preservation Act of 2017 115 1962 HR 2017-04-05 Referred to the House Committee on Ways and Means. Related bill CRS SERVE Act 115 2341 HR 2017-05-03 Referred to the House Committee on Ways and Means. Related bill CRS Graduate Student Savings Act of 2017 115 3136 HR 2017-06-29 Referred to the House Committee on Ways and Means. Related bill CRS Enhancing Educational Opportunities for Home School Students Act 115 4862 HR 2018-01-19 Referred to the House Committee on Ways and Means. Related bill CRS To amend the Internal Revenue Code of 1986 to allow qualified education loan repayments from section 529 plans. 115 6767 HR 2018-09-10 Referred to the House Committee on Ways and Means. Related bill CRS A bill to amend the Internal Revenue Code of 1986 to clarify the retirement income account rules relating to church controlled organizations. 115 674 S 2017-03-21 Read twice and referred to the Committee on Finance. Related bill CRS Retirement Security Preservation Act of 2017 115 852 S 2017-04-05 Read twice and referred to the Committee on Finance. Related bill CRS Graduate Student Savings Act of 2017 115 1379 S 2017-06-19 Read twice and referred to the Committee on Finance. Related bill CRS A bill to amend the Internal Revenue Code of 1986 to allow for distributions from 529 accounts for expenses associated with registered apprenticeship programs. 115 2222 S 2017-12-12 Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S7976) Related bill CRS Providing for consideration of the bill (H.R. 6756) to amend the Internal Revenue Code of 1986 to promote new business innovation, and for other purposes; providing for consideration of the bill (H.R. 6757) to amend the Internal Revenue Code of 1986 to encourage retirement and family savings, and for other purposes; providing for consideration of the bill (H.R. 6760) to amend the Internal Revenue Code of 1986 to make permanent certain provisions of the Tax Cuts and Jobs Act affecting individuals, families, and small businesses; and providing for proceedings during the period from October 1, 2018, through November 12, 2018. 115 1084 HRES 2018-09-27 Motion to reconsider laid on the table Agreed to without objection. 14:02:33 Related bill House Procedurally-related House Shiloh National Military Park Boundary Adjustment and Parker's Crossroads Battlefield Designation Act 115 88 HR 2018-12-21 Message on House action received in Senate and at desk: House amendment to Senate amendment. Related bill CRS Universal Savings Account Act 115 937 HR 2017-02-07 Referred to the House Committee on Ways and Means. Related bill CRS To amend the Internal Revenue Code of 1986 to clarify the treatment of certain retirement plan contributions picked up by governmental employers. 115 2187 HR 2017-04-27 Referred to the House Committee on Ways and Means. Related bill CRS To amend the Internal Revenue Code of 1986 to allow section 529 education accounts to be used for homeschooling expenses. 115 4736 HR 2018-01-03 Referred to the House Committee on Ways and Means. Related bill CRS Universal Savings Account Act 115 323 S 2017-02-07 Read twice and referred to the Committee on Finance. Related bill CRS 2018-09-28 ssfi00 Finance Committee Senate Received in the Senate and Read twice and referred to the Committee on Finance. IntroReferral 2018-09-27 16:11:28 Motion to reconsider laid on the table Agreed to without objection. Floor H38310 2 House floor actions 2018-09-27 16:11:26 On passage Passed by the Yeas and Nays: 240 - 177 (Roll no. 411). (text: CR H9118-9126) Floor H37100 2 House floor actions 411 https://clerk.house.gov/evs/2018/roll411.xml House 115 2018-09-27T20:11:26Z 2 2018-09-27 16:11:26 Passed/agreed to in House: On passage Passed by the Yeas and Nays: 240 - 177 (Roll no. 411).(text: CR H9118-9126) Floor 8000 9 Library of Congress 411 https://clerk.house.gov/evs/2018/roll411.xml House 115 2018-09-27T20:11:26Z 2 2018-09-27 15:43:20 The previous question was ordered pursuant to the rule. Floor H35000 2 House floor actions 2018-09-27 14:38:28 DEBATE - The House proceeded with one hour of debate on H.R. 6757. Floor H8D000 2 House floor actions 2018-09-27 14:36:48 Rule provides for consideration of H.R. 6756, H.R. 6757 and H.R. 6760. Floor H8D000 2 House floor actions 2018-09-27 14:36:43 Considered under the provisions of rule H. Res. 1084. (consideration: CR H9118-9134) Floor H30000 2 House floor actions 2018-09-26 18:04:42 Rules Committee Resolution H. Res. 1084 Reported to House. Rule provides for consideration of H.R. 6756, H.R. 6757 and H.R. 6760. Floor H1L210 2 House floor actions 2018-09-24 Placed on the Union Calendar, Calendar No. 747. Calendars H12410 2 House floor actions U00747 2018-09-24 Committee on Education and the Workforce discharged. Discharge H12300 2 House floor actions hsed00 Education and the Workforce Committee 2018-09-24 Committee on Education and the Workforce discharged. Committee 5500 9 Library of Congress hsed00 Education and the Workforce Committee 2018-09-24 Reported (Amended) by the Committee on Ways and Means. H. Rept. 115-959, Part I. Committee H12200 2 House floor actions hswm00 Ways and Means Committee 2018-09-24 Reported (Amended) by the Committee on Ways and Means. H. Rept. 115-959, Part I. Committee 5000 9 Library of Congress hswm00 Ways and Means Committee 2018-09-13 hswm00 Ways and Means Committee 1 House committee actions Ordered to be Reported in the Nature of a Substitute by the Yeas and Nays: 21 - 14. Committee 2018-09-13 hswm00 Ways and Means Committee 1 House committee actions Committee Consideration and Mark-up Session Held. Committee 2018-09-10 Referred to the Committee on Ways and Means, and in addition to the Committee on Education and the Workforce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. IntroReferral H11100 2 House floor actions hsed00 Education and the Workforce Committee 2018-09-10 Referred to the Committee on Ways and Means, and in addition to the Committee on Education and the Workforce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. IntroReferral H11100 2 House floor actions hswm00 Ways and Means Committee 2018-09-10 Introduced in House IntroReferral Intro-H 9 Library of Congress 2018-09-10 Introduced in House IntroReferral 1000 9 Library of Congress K000376 Rep. Kelly, Mike [R-PA-3] Mike Kelly R PA 3 N B000755 Rep. Brady, Kevin [R-TX-8] KEVIN BRADY R TX 8 2018-09-10 True J000174 Rep. Johnson, Sam [R-TX-3] SAM JOHNSON R TX 3 2018-09-10 True N000181 Rep. Nunes, Devin [R-CA-22] Devin Nunes R CA 22 2018-09-10 True R000578 Rep. Reichert, David G. [R-WA-8] David Reichert R WA G. 8 2018-09-10 True R000580 Rep. Roskam, Peter J. [R-IL-6] Peter Roskam R IL J. 6 2018-09-10 True B001260 Rep. Buchanan, Vern [R-FL-16] Vern Buchanan R FL 16 2018-09-10 True S001172 Rep. Smith, Adrian [R-NE-3] Adrian Smith R NE 3 2018-09-10 True J000290 Rep. Jenkins, Lynn [R-KS-2] Lynn Jenkins R KS 2 2018-09-10 True P000594 Rep. Paulsen, Erik [R-MN-3] Erik Paulsen R MN 3 2018-09-10 True M001158 Rep. Marchant, Kenny [R-TX-24] Kenny Marchant R TX 24 2018-09-10 True B001273 Rep. Black, Diane [R-TN-6] Diane Black R TN 6 2018-09-10 True R000585 Rep. Reed, Tom [R-NY-23] Tom Reed R NY 23 2018-09-10 True R000586 Rep. Renacci, James B. [R-OH-16] James Renacci R OH B. 16 2018-09-10 True N000184 Rep. Noem, Kristi L. [R-SD-At Large] Kristi Noem R SD L. 0 2018-09-10 True H001065 Rep. Holding, George [R-NC-2] George Holding R NC 2 2018-09-10 True S001195 Rep. Smith, Jason [R-MO-8] Jason Smith R MO 8 2018-09-10 True R000597 Rep. Rice, Tom [R-SC-7] Tom Rice R SC 7 2018-09-10 True S001183 Rep. Schweikert, David [R-AZ-6] David Schweikert R AZ 6 2018-09-10 True W000813 Rep. Walorski, Jackie [R-IN-2] Jackie Walorski R IN 2 2018-09-10 True C001107 Rep. Curbelo, Carlos [R-FL-26] Carlos Curbelo R FL 26 2018-09-10 True B001293 Rep. Bishop, Mike [R-MI-8] Mike Bishop R MI 8 2018-09-10 True L000585 Rep. LaHood, Darin [R-IL-18] Darin LaHood R IL 18 2018-09-10 True W000815 Rep. Wenstrup, Brad R. [R-OH-2] Brad Wenstrup R OH R. 2 2018-09-10 True M001201 Rep. Mitchell, Paul [R-MI-10] Paul Mitchell R MI 10 2018-09-10 True S000250 Rep. Sessions, Pete [R-TX-32] PETE SESSIONS R TX 32 2018-09-12 False B001243 Rep. Blackburn, Marsha [R-TN-7] Marsha Blackburn R TN 7 2018-09-17 False C001105 Rep. Comstock, Barbara [R-VA-10] Barbara Comstock R VA 10 2018-09-17 False H001072 Rep. Hill, J. French [R-AR-2] J. Hill R AR French 2 2018-09-17 False E000298 Rep. Estes, Ron [R-KS-4] Ron Estes R KS 4 2018-09-17 False 2018-09-21T20:00:00Z H.R. 6757, Family Savings Act of 2018 https://www.cbo.gov/publication/54494 As ordered reported by the House Committee on Ways and Means on September 13, 2018 Taxation Administrative law and regulatory procedures Adoption and foster care Bank accounts, deposits, capital Business records Child care and development Consumer credit Department of Labor Elementary and secondary education Employee benefits and pensions Employment and training programs Financial services and investments Government information and archives Higher education Income tax deductions Income tax deferral Income tax exclusion Interest, dividends, interest rates Military personnel and dependents National Guard and reserves Special education Student aid and college costs Tax treatment of families Taxation 00 2018-09-10 Introduced in House 2019-04-17T20:43:21Z Family Savings Act of 2018

This bill modifies the requirements for employer-provided retirement plans and tax-favored savings accounts.

With respect to employer-provided retirement plans, the bill modifies requirements regarding:

  • multiple employer and pooled employer plans,
  • nonelective contributions to 401(k) plans,
  • loans,
  • the portability of lifetime income investments,
  • the treatment of custodial accounts upon termination of section 403(b) plans,
  • retirement income accounts for church-controlled organizations,
  • required minimum distributions,
  • retirement plan contributions picked up by government employers for new or existing employees,
  • elective deferrals by members of the Ready Reserve of a reserve component of the Armed Forces, and
  • nondiscrimination rules.

The bill modifies requirements for other tax-favored savings account to:

  • treat taxable non-tuition fellowship and stipend payments as compensation for the purpose of an Individual Retirement Account (IRA),
  • repeal the maximum age for traditional IRA contributions,
  • allow individuals to establish tax-favored universal savings accounts,
  • expand the purposes for which qualified tuition programs (commonly known as 529 plans) may be used, and
  • allow certain penalty-free withdrawals from retirement plans if a child is born or adopted.
]]> Family Savings Act of 2018 Display Title Family Savings Act of 2018 Official Title as Introduced To amend the Internal Revenue Code of 1986 to encourage retirement and family savings, and for other purposes. Introduced in House IH Short Titles as Introduced Family Savings Act of 2018 Short Titles as Reported to House Family Savings Act of 2018 H House Short Titles as Passed House Family Savings Act of 2018 H House 969 115 HAMDT Pursuant to the provisions of H.Res. 1084, the amendment in the nature of a substitute, modified by the amendment printed in Part B is considered adopted. Pursuant to the provisions of H.Res. 1084, the amendment in the nature of a substitute, modified by the amendment printed in Part B is considered adopted. 2020-12-15T16:38:23Z Rules Committee 2018-09-27T04:00:00Z House of Representatives 115 HR House H 6757 Family Savings Act of 2018 2023-01-11T13:41:34Z H.Res. 1084 https://www.congress.gov/bill/115th-congress/house-resolution/1084 2 2018-09-27 House amendment offered Floor 71000 9 Library of Congress Referred in Senate 2018-09-28T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-115hr6757rfs/xml/BILLS-115hr6757rfs.xml Engrossed in House 2018-09-27T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-115hr6757eh/xml/BILLS-115hr6757eh.xml Reported in House 2018-09-24T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-115hr6757rh/xml/BILLS-115hr6757rh.xml Introduced in House 2018-09-10T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-115hr6757ih/xml/BILLS-115hr6757ih.xml 2018-09-28 Received in the Senate and Read twice and referred to the Committee on Finance. 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.