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House Bill 855
115th Congress(2017-2018)
SAVINGS Act
Introduced
Introduced
Introduced in House on Feb 3, 2017
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Introduced in House 
Feb 3, 2017
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Introduced in House(Feb 3, 2017)
Feb 3, 2017
Not Scanned for Linkage
About Linkage
Multiple bills can contain the same text. This could be an identical bill in the opposite chamber or a smaller bill with a section embedded in a larger bill.
Bill Sponsor regularly scans bill texts to find sections that are contained in other bill texts. When a matching section is found, the bills containing that section can be viewed by clicking "View Bills" within the bill text section.
Bill Sponsor is currently only finding exact word-for-word section matches. In a future release, partial matches will be included.
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H. R. 855 (Introduced-in-House)


115th CONGRESS
1st Session
H. R. 855


To amend title 31, United States Code, to require the Secretary of the Treasury to provide for the purchase of paper United States savings bonds with tax refunds.

IN THE HOUSE OF REPRESENTATIVES

February 3, 2017

Mr. Cartwright (for himself, Mr. Cummings, Mr. Ellison, Ms. Jenkins of Kansas, Mr. Neal, Ms. Tsongas, Mr. Lipinski, and Ms. Schakowsky) introduced the following bill; which was referred to the Committee on Ways and Means

A BILL

To amend title 31, United States Code, to require the Secretary of the Treasury to provide for the purchase of paper United States savings bonds with tax refunds.

Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,

SECTION 1. Short title.

This Act may be cited as the “Save Access to a Valuable Investment Needed to Generate Savings Act of 2017” or the “SAVINGS Act”.

SEC. 2. Purchase paper United States savings bonds with tax refund.

Section 3106 of title 31, United States Code, is amended by adding at the end the following:

“(d) The Secretary shall—

“(1) provide an option on the individual return of tax under subtitle A of the Internal Revenue Code of 1986 to use a portion or all of a refund of overpayment of such tax to purchase United States savings bonds in paper form for the taxpayer or any individual designated by the taxpayer; or

“(2) provide an option on such return of tax that—

“(A) allows for the gifting of United States savings bonds to any individual designated by the taxpayer; and

“(B) serves the unbanked (within the meaning of section 49 of the Federal Deposit Insurance Act (12 U.S.C. 1831z)) and individuals who lack access to the Internet.”.