Bank Accounts, Deposits, Capital
US Congress 114th Congress
Encouraging Americans to Save Act [S.2492]
[Retirement ]
[Taxes ]
[Finance ]
[Senior Citizens ]
Encouraging Americans to Save Act This bill amends the Internal Revenue Code to expand the tax credit for retirement savings contributions to: (1) make such credit refundable; (2) allow individual taxpayers (excluding dependents and full-time students) who have attained age 18 as of the close of the taxable year a credit for 50% of their retirement savings contributions up to $1,000; (3) increase the maximum income threshold for determining eligibility for the credit; and (4) allow direct deposit of credit amounts into the taxpayer's retirement
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Sponsored by: Sen. Robert Casey
Read Twice And Referred To The Committee On Finance. on 02/03/2016
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401(Kids) Education Savings Account Modernization Act of 2016 [S.2471]
[Education ]
[Taxes ]
[Technology and Innovation ]
[Children and Youth ]
401(Kids) Education Savings Account Modernization Act of 2016 6 This bill amends the Internal Revenue Code to: (1) limit the requirement for an income-based reduction in allowable contributions to a Coverdell education savings account to an individual who is the custodial parent of an account beneficiary (thus exempting non-custodians of the beneficiary from such reduction), (2) increase the annual contribution limit for such accounts, (3) allow the use of such an account to pay home school expenses, and (4) allow tax-free rollovers of amounts in
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Sponsored by: Sen. Chuck Grassley
Read Twice And Referred To The Committee On Finance. on 01/28/2016
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Educational Freedom Accounts Act [S.2455]
[Education ]
[Children and Youth ]
[Funding ]
Educational Freedom Accounts Act This bill requires the District of Columbia to provide education savings accounts for children who are eligible to receive a free public education in the District, but whose parents choose not to enroll them in a public school or home schooling. To receive an account, a child must be either entering kindergarten or prekindergarten or have been enrolled in a public school in the District during the previous year. The Chief Financial Officer of the District must award a contract to a tax-exempt entity based in the
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Sponsored by: Sen. Mike Lee
Read Twice And Referred To The Committee On Finance. on 01/20/2016
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ACE Act Allocating for Children's Education Act [S.243]
[Education ]
[Taxes ]
[Children and Youth ]
ACE Act Allocating for Children's Education Act Amends the Internal Revenue Code, with respect to Coverdale education savings accounts, to: (1) increase from $2,000 to $5,000 the maximum allowable contribution to such accounts in a taxable year, and (2) allow distributions from such accounts for the purchase of athletic equipment at elementary and secondary schools.
Sponsored by: Sen. Deb Fischer
Read Twice And Referred To The Committee On Finance. on 01/22/2015
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Defeat ISIS and Protect and Secure the United States Act of 2015 [S.2377]
[Defense ]
[Immigration ]
[International ]
[National Security ]
[Law Enforcement ]
[Cybersecurity ]
[Transportation and Motor Vehicles ]
[Public Safety ]
[Grants ]
[Funding ]
[Firearms/Gun Control ]
[Science ]
[Technology and Innovation ]
[Criminal Justice ]
[Crime ]
Defeat ISIS and Protect and Secure the United States Act of 2015 This bill directs the President to designate a person to coordinate federal government and international partner efforts to defeat the Islamic State in Iraq and Syria (ISIS). The President may prohibit, or impose strict conditions on, the opening or maintaining in the United States of a correspondent account or a payable-through account by a foreign financial institution that knowingly facilitates a significant transaction for ISIS. The Director of National Intelligence shall review
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Sponsored by: Sen. Jack Reed
Read Twice And Referred To The Committee On The Judiciary. (text Of Measure As Introduced: Cr S8548-8558) on 12/09/2015
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Universal Savings Account Act [S.2320]
[Finance ]
[Taxes ]
[Budget and Spending ]
[Investments ]
[Retirement ]
Universal Savings Account Act This bill amends the Internal Revenue Code to allow for the establishment of Universal Savings Accounts. These Accounts shall be tax-exempt and may be opened by any individual who is at least 18 years of age and a U.S. citizen or legal permanent resident. Contributions to these Accounts must be in cash and may not exceed $5,500 (adjusted annually for inflation) in any calendar year. Distributions from a Universal Savings Account are excluded from the gross income of the account holder for income tax purposes.
Sponsored by: Sen. Jeff Flake
Read Twice And Referred To The Committee On Finance. on 11/19/2015
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A bill to amend the Communications Act of 1934. [S.2319]
[Telecommunications ]
[Technology and Innovation ]
[Budget and Spending ]
A bill to amend the Communications Act of 1934. (Sec. 1) This bill amends the Communications Act of 1934 to require any deposits that the Federal Communications Commission may require for the qualification of bidders in a system of competitive bidding for spectrum licenses to be deposited directly in the Treasury instead of in an interest bearing account at a financial institution. The bill removes a provision that requires the interest accrued to such a financial institution account to be dedicated for the sole purpose of deficit reduction. The
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Sponsored by: Sen. John Thune
Committee On Commerce, Science, And Transportation. Reported By Senator Thune Under Authority Of The Order Of The Senate Of 07/14/2016 Without Amendment. Without Written Report. on 08/30/2016
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A bill to amend title 38, United States Code, to expand the requirements for reissuance of veterans benefits in cases of misuse of benefits by certain fiduciaries to include misuse by all fiduciaries, and to improve oversight of fiduciaries, and for other purposes. [S.2316]
[Veterans ]
[Finance ]
[Law Enforcement ]
[Public Safety ]
[Human Services ]
A bill to amend title 38, United States Code, to expand the requirements for reissuance of veterans benefits in cases of misuse of benefits by certain fiduciaries to include misuse by all fiduciaries, and to improve oversight of fiduciaries, and for other purposes. This bill authorizes the Department of Veterans Affairs (VA) to reissue veterans benefits to a beneficiary in all cases of fiduciary misuse. The VA shall pay the beneficiary or the successor fiduciary an amount equal to the misused benefits. VA access to fiduciary-held financial accounts
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Sponsored by: Sen. Richard Blumenthal
Committee On Veterans' Affairs. Hearings Held. on 06/29/2016
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Prepaid Card and Mobile Account Consumer Protection Act of 2015 [S.2315]
[Consumer Protection ]
[Finance ]
[Technology and Innovation ]
Prepaid Card and Mobile Account Consumer Protection Act of 2015 This bill amends the Electronic Fund Transfer Act to extend its coverage to spending accounts (deposit accounts) established by a consumer at an insured depository institution or credit union: to which recurring electronic fund transfers (EFTs) may be made, at the consumer's direction; and from which payments may be made, at the consumer's direction, through the use of a card, code, or device ( prepaid cards). Any similar deposit account operated or managed by a financial institution,
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Sponsored by: Sen. Richard Blumenthal
Read Twice And Referred To The Committee On Banking, Housing, And Urban Affairs. on 11/19/2015
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Federal Reserve Transparency Act of 2015 [S.2232]
[Finance ]
[Budget and Spending ]
[Taxes ]
Federal Reserve Transparency Act of 2015 This bill directs the Government Accountability Office to: (1) commence and complete an audit of the Board of Governors of the Federal Reserve System and of the Federal Reserve Banks within 12 months of enactment of this Act, and (2) report findings and conclusions to Congress within 90 days of completing the audit. The bill also repeals certain limitations upon such an audit.
Sponsored by: Sen. Chuck Grassley
Motion To Proceed To Measure Considered In Senate. on 01/12/2016
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An Act Making Appropriations to Stop Regulatory Excess and for Other Purposes, 2016 [S.2132]
[Finance ]
[Telecommunications ]
[Consumer Protection ]
[Public Lands and National Parks ]
[Healthcare ]
[Labor, Jobs, Employment ]
[Medicare and Medicaid ]
[Budget and Spending ]
[Education ]
[Social Security ]
[Children and Youth ]
[Environmental ]
[Public Health ]
[Mental Health ]
[Funding ]
[Grants ]
[Law Enforcement ]
[Energy ]
[Insurance ]
An Act Making Appropriations to Stop Regulatory Excess and for Other Purposes, 2016 Provides FY2016 appropriations for financial services and general government; the Department of the Interior and the Environmental Protection Agency; the Departments of Labor, Health and Human Services, and Education; and several related agencies. Financial Services and General Government Appropriations Act, 2016 Department of the Treasury Appropriations Act, 2016 Provides appropriations to the Department of the Treasury, including the Internal Revenue Service. Executive
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Sponsored by: Sen. Lisa Murkowski
Read The Second Time. Placed On Senate Legislative Calendar Under General Orders. Calendar No. 251. on 10/06/2015
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Small Business Lending and Economic Inequality Reduction Act of 2015 [S.2125]
[Small Business ]
[Economic Development ]
[Finance ]
[Community Development ]
[Poverty ]
[Funding ]
Small Business Lending and Economic Inequality Reduction Act of 2015 This bill amends the Small Business Act to establish a Community Advantage Program, under which the Small Business Administration (SBA) may guarantee loans up to $350,000 made by specified kinds of institutions, including: development companies eligible for the state and local development company program, nonprofit intermediaries, non-federally regulated entities certified as community development financial institutions, and any other SBA-approved nonprofit organizations. At least
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Sponsored by: Sen. Dianne Feinstein
Read Twice And Referred To The Committee On Small Business And Entrepreneurship. (sponsor Introductory Remarks On Measure: Cr S7104-7105) on 10/01/2015
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401(Kids) Education Savings Account Act of 2015 [S.195]
[Education ]
[Taxes ]
[Retirement ]
401(Kids) Education Savings Account Act of 2015 Amends the Internal Revenue Code to: (1) eliminate after 2015 the income-based reduction of contributions to Coverdell education savings accounts, (2) increase the annual contribution limit for such accounts, (3) allow the use of such an account to pay home school expenses and the acquisition costs of a first-time homebuyer, and (4) allow tax-free rollovers of amounts in a Coverdell education savings account to a Roth individual retirement account.
Sponsored by: Sen. Pat Toomey
Read Twice And Referred To The Committee On Finance. on 01/20/2015
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Financial Services and General Government Appropriations Act, 2016 [S.1910]
[Finance ]
[Taxes ]
[Budget and Spending ]
[Small Business ]
[Insurance ]
[Consumer Protection ]
[Data Privacy ]
[Economic Development ]
Financial Services and General Government Appropriations Act, 2016 Provides FY2016 appropriations for financial services and general government, including programs in the Department of the Treasury, the Executive Office of the President, the federal judiciary, the District of Columbia, and several independent agencies. Department of the Treasury Appropriations Act, 2016 TITLE I--DEPARTMENT OF THE TREASURY Provides appropriations to the Department of the Treasury for Departmental Offices, including: Salaries and Expenses, Department-Wide Systems
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Sponsored by: Sen. John Boozman
Committee On Appropriations. Original Measure Reported To Senate By Senator Boozman. With Written Report No. 114-97. on 07/30/2015
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Postal Innovation Act [S.1854]
[Telecommunications ]
[Alcoholic Beverages ]
[Transportation and Motor Vehicles ]
[Technology and Innovation ]
[Small Business ]
[Cybersecurity ]
[Elections ]
[Funding ]
[Public Safety ]
Postal Innovation Act This bill expands the powers of the U.S. Postal Service (USPS) by allowing it to offer nonpostal services, including financial services, warehousing, public Internet access, experimental postal products market testing, shipment of beer, wine, and spirits, and community support services. The bill also authorizes USPS to: (1) furnish property and services to states, local governments, and tribal governments; and (2) conduct a pilot program to assess the most cost-effective implementation of providing nonpostal services to communities
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Sponsored by: Sen. Cory Booker
Read Twice And Referred To The Committee On Homeland Security And Governmental Affairs. on 07/23/2015
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Sound Dollar Act of 2015 [S.1848]
[Finance ]
[Budget and Spending ]
[Consumer Protection ]
[Inflation ]
Sound Dollar Act of 2015 This bill amends the Federal Reserve Act (FRA) to direct the Board of Governors of the Federal Reserve System and the Federal Open Market Committee (FOMC) to: (1) pursue the goal of long-term price stability, and (2) establish metrics to evaluate whether long-term price stability is being achieved. The bill also prescribes procedures for the establishment and evaluation of such metrics. The Board and the FOMC shall: (1) make such information available to the public on a website, and (2) report to Congress each time such
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Sponsored by: Sen. Mike Lee
Read Twice And Referred To The Committee On Banking, Housing, And Urban Affairs. on 07/23/2015
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Community Bank Access to Capital Act of 2015 [S.1816]
[Finance ]
[Small Business ]
[Investments ]
Community Bank Access to Capital Act of 2015 This bill directs the Comptroller of the Currency, the Board of Governors of the Federal Reserve System, and the Federal Deposit Insurance Corporation (FDIC): (1) to each promulgate a regulation exempting community banks from regulations implementing "Basel III: A global regulatory framework for more resilient banks and banking systems," and (2) to revise capital requirements as they determine appropriate in light of such required regulations. A community bank is defined as one whose consolidated assets
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Sponsored by: Sen. Mike Rounds
Committee On Banking, Housing, And Urban Affairs. Hearings Held. on 06/23/2016
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Consumer Financial Choice and Capital Markets Protection Act of 2015 [S.1802]
[Finance ]
[Consumer Protection ]
[Investments ]
Consumer Financial Choice and Capital Markets Protection Act of 2015 This bill amends the Investment Company Act of 1940 to authorize any open-end investment company to elect, in its registration statement, to be a money market fund and to compute the current price per share, for purposes of distribution or redemption and repurchase, of any redeemable security issued by the company using the amortized cost method of valuation or the penny-rounding method of pricing, regardless of whether its shareholders are limited to natural persons, if: the company's
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Sponsored by: Sen. Robert Menendez
Committee On Banking, Housing, And Urban Affairs Subcommittee On Securities, Insurance, And Investment. Hearings Held. on 05/19/2016
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Community Bank Sensible Regulation Act of 2015 [S.1799]
[Finance ]
[Small Business ]
[Budget and Spending ]
[Law Enforcement ]
[Economic Development ]
Community Bank Sensible Regulation Act of 2015 This bill amends the following Acts governing insured depository institutions to authorize the respective regulatory agencies to exempt from their regulatory purview depository institutions having less than $10 billion in total assets after the agencies have considered specified factors: the Federal Deposit Insurance Act (insured depository institutions), the Revised Statutes (national banks), the Home Owners' Loan Act (savings associations, savings and loan holding companies, and mutual holding company),
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Sponsored by: Sen. Susan Collins
Read Twice And Referred To The Committee On Banking, Housing, And Urban Affairs. (sponsor Introductory Remarks On Measure: Cr S5173-5174) on 07/16/2015
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Data Security and Breach Notification Act of 2015 [S.177]
[Technology and Innovation ]
[Cybersecurity ]
[Data Privacy ]
[Consumer Protection ]
[Law Enforcement ]
[Public Safety ]
[National Security ]
Data Security and Breach Notification Act of 2015 Requires the Federal Trade Commission (FTC) to promulgate regulations requiring commercial entities, nonprofit and for-profit corporations, estates, trusts, cooperatives, and other specified entities that own or possess data containing personal information (covered entities), or that contract to have a third-party maintain or process such data for the entity, to implement information security policies and procedures for the treatment and protection of personal information. Establishes procedures
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Sponsored by: Sen. Richard Blumenthal
Read Twice And Referred To The Committee On Commerce, Science, And Transportation. on 01/13/2015