US Congress House Bill 5946 (Prior Session Legislation)

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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]

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.

Military Savings Act of 2012

Sen. Edward Markey [D-MA]

Rep. Robert Andrews [D-NJ]

Rep. Niki Tsongas [D-MA]

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.

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