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- H.R.2163
H.R.2163: Kids Invest and Develop Savings Act of 2007
About This Bill
- This bill was introduced in the 110th Congress
- This bill is primarily about taxation
- Introduced May 3, 2007
- Latest Major Action May 3, 2007
- See the one similar bills introduced in other congresses.
Bill Sponsor
Bill Cosponsors
18 (1 Democrat, 18 Republicans)
Bill Summary
Kids Invest and Develop Savings Act of 2007 - Amends the Internal Revenue Code to: (1) increase the allowable amount of the tax credit for retirement savings; (2) expand eligibility for such credit to taxpayers with adjusted gross incomes up to $95,000 ($150,000 for joint returns); (3) establish tax-exempt Roth individual retirement accounts (IRAs) for individuals under the age of 25; and (4) allow a tax credit for contributions to such IRAs.
(Source: Library of Congress)
Bill Actions
| Date | Description |
|---|---|
|
Referred to the House Committee on Ways and Means.
|
|
| May 3, 2007 |
Introduced in the House by Connie Mack (R-Fla.) |