Senate Bill 222
117th Congress(2021-2022)
American Opportunity Accounts Act
Introduced
Introduced in Senate on Feb 4, 2021
Origin Chamber
Senate
Type
Bill
Bill
The primary form of legislative measure used to propose law. Depending on the chamber of origin, bills begin with a designation of either H.R. or S. Joint resolution is another form of legislative measure used to propose law.
Bill Number
222
Congress
117
Policy Area
Taxation
Taxation
Primary focus of measure is all aspects of income, excise, property, inheritance, and employment taxes; tax administration and collection. Measures concerning state and local finance may fall under Economics and Public Finance policy area.
No Senate votes have been held for this bill.
Summary
American Opportunity Accounts Act
This bill establishes tax-exempt American Opportunity Accounts to provide children at birth with a $1,000 savings account with annual contributions up to $2,000 depending on family income. The accounts are available to children at age 18 for specified purposes, including educational expenses, home ownership, and investment that provides long-term returns.
February 4, 2021
02/04/2021
Read twice and referred to the Committee on Finance.
02/04/2021
Introduced in Senate
Public Record
Record Updated
Mar 8, 2023 8:12:44 PM