Deposit Restricted Qualified Tuition Programs Act of 2009

Summary

Deposit Restricted Qualified Tuition Programs Act of 2009 - Amends the Federal Deposit Insurance Act to prescribe requirements for deposit restricted qualified tuition programs which are exempt from federal income tax. Defines such a program as one in which: (1) the cash provided to it by a contributor may be invested only in deposits insured by the Federal Deposit Insurance Corporation (FDIC); (2) the contributor may become a participant in the program by depositing funds into an account at a depository institution participating in the program; and (3) the program may include multiple depository institutions. Deems a deposit restricted qualified tuition program to be an identified banking product for purposes of the Securities Exchange Act of 1934. Denies treatment as a security under the Securities Act of 1933, the Securities Exchange Act of 1934, or the Investment Company Act of 1940 of: (1) the investment of cash in deposits at an insured depository institution through a deposit restricted qualified tuition program; (2) any certificate of deposit or other instrument evidencing any such deposit; or (3) any participation by a contributor to a deposit restricted qualified tuition program. Declares that in no event shall a deposit restricted qualified tuition program be deemed to be an issuer of a security or an investment company.

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Timeline

1. 17 September 2009

   Introduced

   Referred to the House Committee on Financial Services.

   Source: IntroReferral

2. 17 September 2009

   Introduced

   Sponsor introductory remarks on measure. (CR E2305)

   Source: IntroReferral

3. 17 September 2009

   Introduced

   Introduced in House

   Source: IntroReferral

4. 17 September 2009

   Introduced

   Introduced in House

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

• Introduced in House · 17 September 2009 · Download file

Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 17 September 2009

  ViewDownloadOpen at official source

• Introduced in House (PDF)

  Introduced in House · EN · 17 September 2009

  ViewDownloadOpen at official source

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• Introduced in House

  summary · EN · 17 September 2009

  Open at official source

  Leesvertaling

  Vertaal dit document naar jouw taal. PoliticalRepo bewaart geen aparte kopie per EU-taal.

  Vertaal naarNL · DutchDE · GermanFR · FrenchES · SpanishIT · ItalianPL · PolishPT · PortugueseSV · SwedishDA · DanishFI · FinnishEL · GreekCS · CzechHU · HungarianRO · RomanianBG · BulgarianHR · CroatianSK · SlovakSL · SlovenianLT · LithuanianLV · LatvianET · EstonianGA · IrishMT · Maltese

  Vertaal document

  Documentvertaling op verzoek met downloadbare PDF (logo + link naar de officiële bron). Het bronbestand blijft leidend.

Sponsors

• Rep. Cleaver, Emanuel [D-MO-5] · D · Sponsor
• Rep. Frank, Barney [D-MA-4] · D · Sponsor
• · hsba00 · Standing

Related records

• related to ← Deposit Restricted Qualified Tuition Programs Act of 2010