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- S.2320
S.2320: Universal Savings Account Act
About This Bill
- Introduced Nov. 19, 2015
- Latest Major Action Nov. 19, 2015
- See the one similar bills introduced in other congresses.
Bill Sponsor
Bill Summary
Universal Savings Account Act This bill amends the Internal Revenue Code to allow for the establishment of Universal Savings Accounts. These Accounts shall be tax-exempt and may be opened by any individual who is at least 18 years of age and a U.S. citizen or legal permanent resident. Contributions to these Accounts must be in cash and may not exceed $5,500 (adjusted annually for inflation) in any calendar year. Distributions from a Universal...
(Source: Library of Congress)
What Lawmakers Are Saying About This Bill
Bill Actions
Date | Description |
---|---|
Nov. 19, 2015 |
Read twice and referred to the Committee on Finance.
|
Nov. 19, 2015 |
Introduced in the Senate by Jeff Flake (R-Ariz.) |