3.0.0 1084 2022-11-01T15:47:46Z 2022-11-01T15:47:46Z House HR 2019-02-07 116 [Congressional Record Volume 165, Number 24 (Thursday, February 7, 2019)][House]From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]By Mr. KELLY of Pennsylvania:H.R. 1084.Congress has the power to enact this legislation pursuantto the following:The Congress enacts this bill pursuant to Article I Section8 of the United States Constitution.[Page H1463]]]> hsbu00 Budget Committee House Standing Referred to 2019-02-07T15:03:30Z hsed00 Education and the Workforce Committee House Standing Referred to 2019-02-07T15:03:25Z hswm00 Ways and Means Committee House Standing Referred to 2019-02-07T15:03:20Z Graduate Student Savings Act of 2019 116 1194 HR 2019-02-13 Referred to the House Committee on Ways and Means. Related bill CRS Increasing Access to a Secure Retirement Act of 2019 116 1439 HR 2019-02-28 Referred to the House Committee on Education and Labor. Related bill CRS Further Consolidated Appropriations Act, 2020 116 1865 HR 2019-12-20 Became Public Law No: 116-94. Related bill CRS Providing Retirement Security to Workers in Small Businesses, Cooperatives, and Service Organizations Act of 2019 116 1993 HR 2019-03-29 Referred to the Committee on Education and Labor, 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 Lifetime Income Disclosure Act 116 2367 HR 2019-04-25 Referred to the House Committee on Education and Labor. Related bill CRS Retirement Security Act of 2019 116 321 S 2019-02-04 Read twice and referred to the Committee on Finance. (Sponsor introductory remarks on measure: CR S834-835) 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. 116 836 S 2019-03-14 Read twice and referred to the Committee on Finance. Related bill CRS Lifetime Income Disclosure Act 116 1574 S 2019-05-21 Read twice and referred to the Committee on Health, Education, Labor, and Pensions. Related bill CRS Retirement Security Preservation Act of 2019 116 2352 S 2019-07-31 Read twice and referred to the Committee on Finance. Related bill CRS Enhancing Educational Opportunities for Home School Students Act 116 65 HR 2019-01-03 Referred to the House Committee on Ways and Means. Related bill CRS Retirement Enhancement and Savings Act of 2019 116 1007 HR 2019-02-06 Referred to the Committee on Ways and Means, and in addition to the Committee on Education and Labor, 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 2019-02-07 Referred to the Committee on Ways and Means, and in addition to the Committees on Education and Labor, and the Budget, 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 hsbu00 Budget Committee 2019-02-07 Referred to the Committee on Ways and Means, and in addition to the Committees on Education and Labor, and the Budget, 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 2019-02-07 Referred to the Committee on Ways and Means, and in addition to the Committees on Education and Labor, and the Budget, 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 2019-02-07 Introduced in House IntroReferral Intro-H 9 Library of Congress 2019-02-07 Introduced in House IntroReferral 1000 9 Library of Congress K000376 Rep. Kelly, Mike [R-PA-16] Mike Kelly R PA 16 N W000815 Rep. Wenstrup, Brad R. [R-OH-2] Brad Wenstrup R OH R. 2 2019-02-07 True A000375 Rep. Arrington, Jodey C. [R-TX-19] Jodey Arrington R TX C. 19 2019-02-07 True L000585 Rep. LaHood, Darin [R-IL-18] Darin LaHood R IL 18 2019-02-07 True S001195 Rep. Smith, Jason [R-MO-8] Jason Smith R MO 8 2019-02-07 True F000465 Rep. Ferguson, A. Drew, IV [R-GA-3] A. Ferguson R GA Drew 3 2019-02-07 True S001183 Rep. Schweikert, David [R-AZ-6] David Schweikert R AZ 6 2019-02-07 True E000298 Rep. Estes, Ron [R-KS-4] Ron Estes R KS 4 2019-02-07 True R000585 Rep. Reed, Tom [R-NY-23] Tom Reed R NY 23 2019-02-07 True M001158 Rep. Marchant, Kenny [R-TX-24] Kenny Marchant R TX 24 2019-02-07 True B001305 Rep. Budd, Ted [R-NC-13] Ted Budd R NC 13 2019-08-23 False S001214 Rep. Steube, W. Gregory [R-FL-17] W. Steube R FL Gregory 17 2020-03-11 False 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 2019-02-07 Introduced in House 2020-01-29T18:48:28Z Family Savings Act of 2019

This bill modifies requirements for tax-exempt multi-employer and pooled employer retirement plans and expands qualified tuition plans (commonly known as 529 plans) to cover additional programs and expenses.

Among other things, the bill

  • treats certain education fellowships and stipend payments as compensation for Individual Retirement Account (IRA) purposes,
  • repeals the maximum age for contributions to a traditional IRA,
  • increases the credit limitation for small employer pension plan startup costs,
  • allows a new tax credit for small employer automatic enrollment plans,
  • exempts certain individuals with pension plan assets not exceeding $50,000 from required minimum distribution rules, and
  • modifies nondiscrimination rules to protect certain older pension plan participants,

Additionally, the bill (1) expands 529 plans to allow distributions for registered apprenticeship programs, education loan repayments, and certain elementary and secondary school expenses in addition to tuition; (2) allows unborn children to be beneficiaries of 529 plans; and (3) permits penalty free withdrawals from retirement plans for expenses related to the birth or adoption of a child.

]]> Family Savings Act of 2019 Display Title Family Savings Act of 2019 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 Title(s) as Introduced Family Savings Act of 2019 Introduced in House IH Introduced in House 2019-02-07T05:00:00Z https://www.govinfo.gov/content/pkg/BILLS-116hr1084ih/xml/BILLS-116hr1084ih.xml 2019-02-07 Referred to the Committee on Ways and Means, and in addition to the Committees on Education and Labor, and the Budget, 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. 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.