Bill SponsorBILLSPONSOR
Bill Sponsor
Politicians
Bills
House Bill 6757
115th Congress(2017-2018)
Family Savings Act of 2018
Active
Amendments
Active
Passed House on Sep 27, 2018
Overview
Text
Sponsor
Republican
Introduced
Sep 10, 2018
Latest Action
Sep 28, 2018
Origin Chamber
House
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
6757
Congress
115
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.
Sponsorship by Party
Republican
Mike Kelly
Pennsylvania
Republican
David Schweikert
Arizona
Republican
French Hill
Arkansas
Republican
Devin Nunes
California
Republican
Carlos Curbelo
Florida
Republican
Vern Buchanan
Florida
Republican
Darin LaHood
Illinois
Republican
Peter Roskam
Illinois
Republican
Jackie Walorski
Indiana
Republican
Lynn Jenkins
Kansas
Republican
Ron Estes
Kansas
Republican
Mike Bishop
Michigan
Republican
Paul Mitchell
Michigan
Republican
Erik Paulsen
Minnesota
Republican
Jason Smith
Missouri
Republican
Adrian Smith
Nebraska
Republican
Tom Reed
New York
Republican
George Holding
North Carolina
Republican
Brad Wenstrup
Ohio
Republican
Jim Renacci
Ohio
Republican
Tom Rice
South Carolina
Republican
Kristi Noem
South Dakota
Republican
Diane Black
Tennessee
Republican
Marsha Blackburn
Tennessee
Republican
Kenny Marchant
Texas
Republican
Kevin Brady
Texas
Republican
Pete Sessions
Texas
Republican
Sam Johnson
Texas
Republican
Barbara Comstock
Virginia
Republican
David Reichert
Washington
House Votes (1)
Senate Votes (0)
checkPassed on September 27, 2018
Question
On Passage
Status
Passed
Type
Roll Call Vote
Roll Call Vote
A vote that records the individual position of each Member who voted. Such votes occurring on the House floor (by the "yeas and nays" or by "recorded vote") are taken by electronic device. The Senate has no electronic voting system; in such votes, Senators answer "yea" or "nay" as the clerk calls each name aloud. Each vote is compiled by clerks and receives a roll call number (referenced in Congress.gov as a "Record Vote" [Senate] or "Roll no." [House]).
Roll Call Type
Yea-And-Nay
Roll Number
411
House Roll Call Votes
Summary

Family Savings Act of 2018

This bill modifies the requirements for employer-provided retirement plans and tax-favored savings accounts.

With respect to employer-provided retirement plans, the bill modifies requirements regarding:

  • multiple employer and pooled employer plans,
  • nonelective contributions to 401(k) plans,
  • loans,
  • the portability of lifetime income investments,
  • the treatment of custodial accounts upon termination of section 403(b) plans,
  • retirement income accounts for church-controlled organizations,
  • required minimum distributions,
  • retirement plan contributions picked up by government employers for new or existing employees,
  • elective deferrals by members of the Ready Reserve of a reserve component of the Armed Forces, and
  • nondiscrimination rules.

The bill modifies requirements for other tax-favored savings account to:

  • treat taxable non-tuition fellowship and stipend payments as compensation for the purpose of an Individual Retirement Account (IRA),
  • repeal the maximum age for traditional IRA contributions,
  • allow individuals to establish tax-favored universal savings accounts,
  • expand the purposes for which qualified tuition programs (commonly known as 529 plans) may be used, and
  • allow certain penalty-free withdrawals from retirement plans if a child is born or adopted.
Text (4)
Referred in Senate
September 28, 2018
Engrossed in House
September 27, 2018
Reported in House
September 24, 2018
Introduced in House
September 10, 2018
Amendments (1)
Sep 27, 2018
Offered in House
0
Sponsorship
House Amendment 969
Pursuant to the provisions of H.Res. 1084, the amendment in the nature of a substitute, modified by the amendment printed in Part B is considered adopted.
Submitted
Actions (16)
09/28/2018
Received in the Senate and Read twice and referred to the Committee on Finance.
09/27/2018
Motion to reconsider laid on the table Agreed to without objection.
09/27/2018
On passage Passed by the Yeas and Nays: 240 - 177 (Roll no. 411). (text: CR H9118-9126)
09/27/2018
Passed/agreed to in House: On passage Passed by the Yeas and Nays: 240 - 177 (Roll no. 411).(text: CR H9118-9126)
09/27/2018
The previous question was ordered pursuant to the rule.
09/27/2018
DEBATE - The House proceeded with one hour of debate on H.R. 6757.
09/27/2018
Rule provides for consideration of H.R. 6756, H.R. 6757 and H.R. 6760.
09/27/2018
Considered under the provisions of rule H. Res. 1084. (consideration: CR H9118-9134)
09/26/2018
Rules Committee Resolution H. Res. 1084 Reported to House. Rule provides for consideration of H.R. 6756, H.R. 6757 and H.R. 6760.
09/24/2018
Placed on the Union Calendar, Calendar No. 747.
09/24/2018
Committee on Education and the Workforce discharged.
09/24/2018
Reported (Amended) by the Committee on Ways and Means. H. Rept. 115-959, Part I.
09/13/2018
Ordered to be Reported in the Nature of a Substitute by the Yeas and Nays: 21 - 14.
09/13/2018
Committee Consideration and Mark-up Session Held.
09/10/2018
Referred to the Committee on Ways and Means, and in addition to the Committee on Education and the Workforce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
09/10/2018
Introduced in House
Public Record
Record Updated
Jan 11, 2023 1:41:34 PM
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