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United States · Bill · HR

H.R. 4178 (111th)

Deposit Restricted Qualified Tuition Programs Act of 2010

referredUnited States· United States Congress· EN

Introduced

2 December 2009

Last action

22 April 2010 · Introduced

Status

Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

Sponsors

Rep. Cleaver, Emanuel [D-MO-5], Rep. Frank, Barney [D-MA-4], Rep. Moore, Dennis [D-KS-3], Rep. Paul, Ron [R-TX-14], Rep. Watt, Melvin L. [D-NC-12], Rep. Marchant, Kenny [R-TX-24], Rep. McCotter, Thaddeus G. [R-MI-11], Sen. Capito, Shelley Moore [R-WV], Rep. Bachus, Spencer [R-AL-6], Rep. Jenkins, Lynn [R-KS-2], Rep. Clay, Wm. Lacy [D-MO-1], Rep. Green, Al [D-TX-9], Rep. Gerlach, Jim [R-PA-6]

Subjects

Taxation

Source updated

14 January 2025

Taxation

Official sourceDownload fileView documentsShare

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 through the program 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, the state entity designated by statute to oversee such program, or the administrator appointed to operate it on behalf of the state or a participating depository institution, be deemed to be an issuer of a security or an investment company.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

  1. 2 December 2009

    Introduced

    Referred to the House Committee on Financial Services.

    Source: IntroReferral

  2. 2 December 2009

    Introduced

    Introduced in House

    Source: IntroReferral

  3. 2 December 2009

    Introduced

    Introduced in House

    Source: IntroReferral

  4. 20 April 2010

    Passed

    Motion to reconsider laid on the table Agreed to without objection.

    Source: Floor

  5. 20 April 2010

    Passed

    On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote. (text: CR H2651)

    Source: Floor

  6. 20 April 2010

    Passed

    Passed/agreed to in House: On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote.(text: CR H2651)

    Source: Floor

  7. 20 April 2010

    Floor

    DEBATE - The House proceeded with forty minutes of debate on H.R. 4178.

    Source: Floor

  8. 20 April 2010

    Floor

    Considered under suspension of the rules. (consideration: CR H2651-2654)

    Source: Floor

  9. 20 April 2010

    Floor

    Mr. Cleaver moved to suspend the rules and pass the bill, as amended.

    Source: Floor

  10. 22 April 2010

    Introduced

    Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

    Source: IntroReferral

Votes

No vote records are attached yet.

Versions

Documents

8 official files

Referred in Senate (text)

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  • Referred in Senate (text)

    Referred in Senate · EN · 22 April 2010

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  • Referred in Senate (PDF)

    Referred in Senate · EN · 22 April 2010

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  • Engrossed in House (text)

    Engrossed in House · EN · 20 April 2010

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  • Engrossed in House (PDF)

    Engrossed in House · EN · 20 April 2010

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  • Passed House amended

    summary · EN · 20 April 2010

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  • Introduced in House (text)

    Introduced in House · EN · 2 December 2009

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  • Introduced in House (PDF)

    Introduced in House · EN · 2 December 2009

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  • Introduced in House

    summary · EN · 2 December 2009

    Open at official source

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Sponsors

Related records

Sources

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