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- H.R.5497
H.R.5497: Kids IRA Act of 2008 (K-IRA)
About This Bill
- This bill was introduced in the 110th Congress
- This bill is primarily about taxation
- Introduced Feb. 26, 2008
- Latest Major Action Feb. 26, 2008
- See the four similar bills introduced in other congresses.
Bill Sponsor
Bill Summary
Kids IRA Act of 2008 (K-IRA) - Amends the Internal Revenue Code to establish young savers account for individual taxpayers under age 26. Treats such accounts as Roth individual retirement accounts (Roth IRAs) for income tax purposes. Allows a tax deduction for contributions to young savers accounts, up to $5,000 a taxable year.
(Source: Library of Congress)
Bill Actions
| Date | Description |
|---|---|
|
Referred to the House Committee on Ways and Means.
|
|
| Feb. 26, 2008 |
Introduced in the House by John P. Murtha (D-Pa.) |