3.0.0 2112 2022-11-01T19:17:14Z 2022-11-01T19:17:14Z House HR 2019-04-04 116 [Congressional Record Volume 165, Number 59 (Thursday, April 4, 2019)][House]From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]By Mrs. WATSON COLEMAN:H.R. 2112.Congress has the power to enact this legislation pursuantto the following:Article 1, Section 8, Clause 1: The Congress shall havePower to lay and collect Taxes, Duties, Imposts and Excises,to pay the Debts and provide for the common Defence andgeneral Welfare of the United States; but all Duties, Impostsand Excises shall be uniform throughout the United States.Article 1, Section 8, Clause 18: To make all Laws whichshall be necessary and proper for carrying into Execution theforegoing Powers, and all other Powers vested by theConstitution in the Government of the United States, or inany Department or Office thereof.[Page H3101]]]> hswm00 Ways and Means Committee House Standing Referred to 2019-04-04T13:00:20Z Refund to Rainy Day Savings Act 116 1018 S 2019-04-03 Read twice and referred to the Committee on Health, Education, Labor, and Pensions. Identical bill CRS 2019-04-04 Referred to the House Committee on Ways and Means. IntroReferral H11100 2 House floor actions hswm00 Ways and Means Committee 2019-04-04 Introduced in House IntroReferral Intro-H 9 Library of Congress 2019-04-04 Introduced in House IntroReferral 1000 9 Library of Congress W000822 Rep. Watson Coleman, Bonnie [D-NJ-12] Bonnie Watson Coleman D NJ 12 N H001072 Rep. Hill, J. French [R-AR-2] J. Hill R AR French 2 2019-04-04 True W000826 Rep. Wild, Susan [D-PA-7] Susan Wild D PA 7 2019-05-21 False S001157 Rep. Scott, David [D-GA-13] David Scott D GA 13 2019-07-23 False H001090 Rep. Harder, Josh [D-CA-10] Josh Harder D CA 10 2020-06-04 False S001204 Del. San Nicolas, Michael F. Q. [D-GU-At Large] Michael San Nicolas D GU F. Q. 0 2020-06-04 False Taxation Appropriations Bank accounts, deposits, capital Poverty and welfare assistance Social work, volunteer service, charitable organizations Tax administration and collection, taxpayers Taxation 00 2019-04-04 Introduced in House 2019-04-23T15:09:39Z Refund to Rainy Day Savings Act

This bill requires the Department of the Treasury to establish and implement a Refund to Rainy Day Savings Program to permit a taxpayer to defer payment on 20% of a tax refund to be deposited into a Treasury account, accumulate interest, and disbursed to the taxpayer in six months.

The bill also reauthorizes the Assets for Independence (AFI) federal matched savings program through FY2024 and requires appropriations for the program to be reserved for

  • general research and evaluation,
  • grants for AFI innovation projects to expand the availability of matched savings accounts to low-income individuals, and
  • a three-year matched savings account pilot program established by the Department of Health and Human Services (HHS) to encourage savings by low-income taxpayers.

Under the pilot program, HHS may provide grants to qualified entities to match funds saved by low-income taxpayers under the Refund to Rainy Day Savings Program.

Qualified entities for the pilot program include

  • nonprofit organizations,
  • state or local government agencies or tribal governments applying with a nonprofit organization,
  • sites that offer free tax assistance under certain Internal Revenue Service programs, and
  • certain low-income credit unions and community development financial institutions.

HHS must (1) contract with an independent research organization to evaluate the pilot program, and (2) report annually to Congress on the progress and outcomes of the pilot program.

]]> Refund to Rainy Day Savings Act Display Title Refund to Rainy Day Savings Act Official Title as Introduced To establish the Refund to Rainy Day Savings Program. Introduced in House IH Short Title(s) as Introduced Refund to Rainy Day Savings Act Introduced in House IH Introduced in House 2019-04-04T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-116hr2112ih/xml/BILLS-116hr2112ih.xml 2019-04-04 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.