US HB5946 | 2011-2012 | 112th Congress
Status
Spectrum: Partisan Bill (Democrat 3-0)
Status: Introduced on June 12 2012 - 25% progression, died in committee
Action: 2012-07-10 - Referred to the Subcommittee on Military Personnel.
Pending: House Subcommittee on Military Personnel Committee
Text: Latest bill text (Introduced) [PDF]
Status: Introduced on June 12 2012 - 25% progression, died in committee
Action: 2012-07-10 - Referred to the Subcommittee on Military Personnel.
Pending: House Subcommittee on Military Personnel Committee
Text: Latest bill text (Introduced) [PDF]
Summary
Military Savings Act of 2012 - Directs the Undersecretary of Defense (Comptroller) to carry out a five-year pilot program to develop innovative consumer financial products that encourage savings and wealth-creation among active-duty servicemembers. Requires the program to be carried out in such a way that it does not exacerbate the incidence of servicemember credit overextension. Directs the Undersecretary to choose at least 10 military installations at which to implement the program. Directs the Undersecretary to contract for an annual independent program evaluation until its termination. Allows the Undersecretary, under certain conditions, to expand the program to a nationwide program and to extend its duration.
Title
Military Savings Act of 2012
Sponsors
Sen. Edward Markey [D-MA] | Rep. Robert Andrews [D-NJ] | Rep. Niki Tsongas [D-MA] |
History
Date | Chamber | Action |
---|---|---|
2012-07-10 | House | Referred to the Subcommittee on Military Personnel. |
2012-06-12 | House | Referred to the House Committee on Armed Services. |
Subjects
Armed forces and national security
Bank accounts, deposits, capital
Congressional oversight
Consumer credit
Financial literacy
Financial services and investments
Military personnel and dependents
Bank accounts, deposits, capital
Congressional oversight
Consumer credit
Financial literacy
Financial services and investments
Military personnel and dependents
US Congress State Sources
Type | Source |
---|---|
Summary | https://www.congress.gov/bill/112th-congress/house-bill/5946/all-info |
Text | https://www.congress.gov/112/bills/hr5946/BILLS-112hr5946ih.pdf |