U.S. Congress - H.R.37 401Kids Family Savings Act of 2011
H.R.37 - 401Kids Family Savings Act of 2011
To amend the Internal Revenue Code of 1986 to improve and expand education savings accounts. view all titles (2)
All Bill Titles
- Short: 401Kids Family Savings Act of 2011 as introduced.
- Official: To amend the Internal Revenue Code of 1986 to improve and expand education savings accounts. as introduced.
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Official Summary
1/5/2011--Introduced.401Kids Family Savings Act of 2011 - Amends the Economic Growth and Tax Relief Reconciliation Act of 2001 to extend through 2015 provisions allowing increased annual contributions to Coverdell education savings accounts. Amends the Internal Revenue Code to: (1) allow tOfficial Summary
1/5/2011--Introduced.401Kids Family Savings Act of 2011 - Amends the Economic Growth and Tax Relief Reconciliation Act of 2001 to extend through 2015 provisions allowing increased annual contributions to Coverdell education savings accounts. Amends the Internal Revenue Code to:(1) allow tax-free distributions from a Coverdell education savings account for first-time homebuyer expenses;
(2) permit rollovers from Coverdell education savings accounts to Roth individual retirement accounts (Roth IRAs); and
(3) rename Coverdell education savings accounts as 401Kids Savings Accounts.
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Latest Letters to Congress
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