US Congress House Bill 4236 (Prior Session Legislation)

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Spectrum: Strong Partisan Bill (Democrat 17-1)
Status: Introduced on December 10 2015 - 25% progression, died in committee
Action: 2015-12-10 - Referred to the House Committee on Ways and Means.
Pending: House Ways And Means Committee
Text: Latest bill text (Introduced) [PDF]

Financial Security Credit Act of 2015 This bill amends the Internal Revenue Code to allow an income-based tax credit equal to the lesser of $500 or 50% of the total amount deposited or contributed into designated savings products in a taxable year (financial security credit). A "designated savings product" is a qualified retirement plan, a qualified tuition plan, a Coverdell education savings account, a U.S. savings bond, a certificate of deposit with a duration of at least eight months, a savings account, or other savings product considered appropriate by the Department of the Treasury. The Internal Revenue Service must notify individual taxpayers who may qualify for a financial security credit that they have the option of an electronic direct deposit if they deposit any portion of their tax refund into a designated savings product.

Financial Security Credit Act of 2015

Rep. Jose Serrano [D-NY]	Rep. Joseph Crowley [D-NY]	Rep. Keith Ellison [D-MN]	Rep. Ruben Hinojosa [D-TX]
Rep. Grace Meng [D-NY]	Rep. Pedro Pierluisi [N-PR]	Rep. Matthew Cartwright [D-PA]	Rep. Richard Nolan [D-MN]
Rep. Rosa DeLauro [D-CT]	Rep. Juan Vargas [D-CA]	Rep. Lucille Roybal-Allard [D-CA]	Rep. Michelle Lujan Grisham [D-NM]
Sen. Ben Lujan [D-NM]	Rep. Hakeem Jeffries [D-NY]	Rep. Yvette Clarke [D-NY]	Rep. Nydia Velazquez [D-NY]
Rep. Alcee Hastings [D-FL]	Rep. Cedric Richmond [D-LA]

Date	Chamber	Action
2015-12-10	House	Referred to the House Committee on Ways and Means.
2015-12-10	House	Introduced in House

Type	Source
Summary	https://www.congress.gov/bill/114th-congress/house-bill/4236/all-info
Text	https://www.congress.gov/114/bills/hr4236/BILLS-114hr4236ih.pdf