US HB1177 | 2011-2012 | 112th Congress
Status
Spectrum: Partisan Bill (Democrat 2-0)
Status: Introduced on March 17 2011 - 25% progression, died in committee
Action: 2011-03-17 - Referred to the House Committee on Ways and Means.
Pending: House Ways And Means Committee
Text: Latest bill text (Introduced) [PDF]
Status: Introduced on March 17 2011 - 25% progression, died in committee
Action: 2011-03-17 - Referred to the House Committee on Ways and Means.
Pending: House Ways And Means Committee
Text: Latest bill text (Introduced) [PDF]
Summary
Kids IRA Act of 2011 or the K-IRA Act - Amends the Internal Revenue Code to establish a tax-exempt individual retirement account for taxpayers under age 26, to be known as a young savers account. Treats such accounts as Roth individual retirement accounts for income tax purposes. Allows an income-based tax deduction for contributions to such accounts, up to $5,000 in any taxable year.
Title
K-IRA Act
Sponsors
| Rep. Mark Critz [D-PA] | Rep. Ruben Hinojosa [D-TX] |
History
| Date | Chamber | Action |
|---|---|---|
| 2011-03-17 | House | Referred to the House Committee on Ways and Means. |
Subjects
US Congress State Sources
| Type | Source |
|---|---|
| Summary | https://www.congress.gov/bill/112th-congress/house-bill/1177/all-info |
| Text | https://www.congress.gov/112/bills/hr1177/BILLS-112hr1177ih.pdf |
