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To amend the Internal Revenue Code of 1986 to provide for tax preferred savings accounts for individuals under age 26, and for other purposes.

USA115th CongressHR-2420| House 
| Updated: 5/11/2017
David Rouzer

David Rouzer

Republican Representative

North Carolina

Ways and Means Committee

  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
This bill amends the Internal Revenue Code to establish a tax-preferred individual retirement account for taxpayers under age 26, to be known as a young savers account. The bill treats such accounts as Roth individual retirement accounts for income tax purposes, with the exception of specified modifications to the rules regarding contribution limits.
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Timeline
May 11, 2017
Introduced in House
May 11, 2017
Referred to the House Committee on Ways and Means.
  • May 11, 2017
    Introduced in House


  • May 11, 2017
    Referred to the House Committee on Ways and Means.

Taxation

Bank accounts, deposits, capitalEmployee benefits and pensionsHigher educationIncome tax exclusionStudent aid and college costs

To amend the Internal Revenue Code of 1986 to provide for tax preferred savings accounts for individuals under age 26, and for other purposes.

USA115th CongressHR-2420| House 
| Updated: 5/11/2017
This bill amends the Internal Revenue Code to establish a tax-preferred individual retirement account for taxpayers under age 26, to be known as a young savers account. The bill treats such accounts as Roth individual retirement accounts for income tax purposes, with the exception of specified modifications to the rules regarding contribution limits.
View Full Text

Suggested Questions

Get AI-generated questions to help you understand this bill better

Timeline
May 11, 2017
Introduced in House
May 11, 2017
Referred to the House Committee on Ways and Means.
  • May 11, 2017
    Introduced in House


  • May 11, 2017
    Referred to the House Committee on Ways and Means.
David Rouzer

David Rouzer

Republican Representative

North Carolina

Ways and Means Committee

Taxation

  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
Bank accounts, deposits, capitalEmployee benefits and pensionsHigher educationIncome tax exclusionStudent aid and college costs