H.R.3374: American Savings Promotion Act

About this Bill

This bill was introduced in the 113th Congress
This bill is primarily about finance and financial sector
You can read the bill
Sponsor Derek Kilmer, D-Wash.
Total Cosponsors 31 (20 Democrats, 11 Republicans)
Introduced Oct. 29, 2013
Latest Major Action Dec. 18, 2014
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Bill Progress

  • Bill introduced in the House   
  • Bill passed in the House   
  • Bill passed in the Senate   
  • Bill signed into law

Bill Summary

(This measure has not been amended since it was passed by the House on September 15, 2014. The summary of that version is repeated here.)

American Savings Promotion Act - Amends the Revised Statutes of the United States, the Federal Reserve Act, the Federal Deposit Insurance Act, and the Home Owners' Loan Act to authorize covered financial institutions to conduct a contest, known as a "savings promotion raffle," in which the sole consideration required for a chance of winning designated prizes is obtained by the deposit of a specified amount of money in a savings account or program, where each ticket or entry has an equal chance of being drawn. Subjects such drawing contest to regulations promulgated by the appropriate prudential regulator.

Excludes such "savings promotion raffle" from the prohibition against a covered financial institution's dealing in "lottery" tickets.

Amends the federal criminal code to exempt: (1) sa...

(Source: Congressional Research Service)

Bill Actions

Date Description
Dec. 18, 2014 Became Public Law No: 113-251.
Dec. 18, 2014 Signed by President.
Dec. 12, 2014 Presented to President.
Dec. 11, 2014 Message on Senate action sent to the House.
Dec. 10, 2014 Passed Senate without amendment by Unanimous Consent.
Dec. 10, 2014 Senate Committee on Banking, Housing, and Urban Affairs discharged by Unanimous Consent. (consideration: CR S6580)
Sept. 16, 2014 Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Sept. 15, 2014 Motion to reconsider laid on the table Agreed to without objection.
Sept. 15, 2014 On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote. (text: CR H7504-7505)
Sept. 15, 2014 DEBATE - The House proceeded with forty minutes of debate on H.R. 3374.
Sept. 15, 2014 Considered under suspension of the rules. (consideration: CR H7504-7506)
Sept. 15, 2014 Mr. Fitzpatrick moved to suspend the rules and pass the bill, as amended.
July 15, 2014 Hearings Held by the Subcommittee on Financial Institutions and Consumer Credit Prior to Referral.
Jan. 9, 2014 Referred to the Subcommittee on Crime, Terrorism, Homeland Security, and Investigations.
Oct. 29, 2013 Referred to House Judiciary
Oct. 29, 2013 Referred to House Financial Services