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- H.R.1177
H.R.1177: K-IRA Act
About This Bill
- This bill was introduced in the 112th Congress
- This bill is primarily about taxation
- Introduced March 17, 2011
- Latest Major Action March 17, 2011
- See the four similar bills introduced in other congresses.
Bill Sponsor
Bill Cosponsor
Bill Summary
Kids IRA Act of 2011 or the K-IRA Act - Amends the Internal Revenue Code to establish a tax-exempt individual retirement account for taxpayers under age 26, to be known as a young savers account. Treats such accounts as Roth individual retirement accounts for income tax purposes. Allows an income-based tax deduction for contributions to such accounts, up to $5,000 in any taxable year.
(Source: Library of Congress)
Bill Actions
Date | Description |
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Referred to the House Committee on Ways and Means.
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March 17, 2011 |
Introduced in the House by Mark Critz (D-Pa.) |