Personal Lockbox Act of 2000

Summary

Personal Lockbox Act of 2000 - Amends title II (Old Age, Survivors and Disability Insurance) (OASDI) of the Social Security Act (SSA) to add a new part B (Personal Retirement Account Program), as well as the Internal Revenue Code (IRC), to structure a tax-exempt personalized retirement program for covered individuals through the designation of a personal retirement account for each such individual that is funded by deposits from amounts in the Federal Old-Age and Survivors Insurance Trust Fund not otherwise required for immediate withdrawal, and by rollover and other contributions made by eligible individuals for investment in any of at least three specified portfolios approved by the Commissioner of Social Security. Provides for tax treatment of distributions. Directs the Securities and Exchange Commission to study and report to Congress on personal retirement account reinsurance. Amends SSA title II with regard to primary insurance amounts. Amends IRC to provide for: (1) annual $300 contributions (tax credits) by the Secretary of the Treasury on behalf of each eligible individual to a personal retirement account; and (2) an excise tax on excess contributions to such accounts. Amends SSA title XI with regard to information requirements for Social Security account statements. Amends SSA title II make appropriations annually to the Federal Disability Insurance Trust Fund to maintain a balance ratio of at least 20 percent.

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

Timeline

1. 12 July 2000

   Introduced

   Referred to the House Committee on Ways and Means.

   Source: IntroReferral

2. 12 July 2000

   Introduced

   Sponsor introductory remarks on measure. (CR H5849-5850)

   Source: IntroReferral

3. 12 July 2000

   Introduced

   Introduced in House

   Source: IntroReferral

4. 12 July 2000

   Introduced

   Introduced in House

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

• Introduced in House · 12 July 2000 · Download file

Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 12 July 2000

  ViewDownloadOpen at official source

• Introduced in House (PDF)

  Introduced in House · EN · 12 July 2000

  ViewDownloadOpen at official source

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• Introduced in House

  summary · EN · 12 July 2000

  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. Sanford, Mark [R-SC-1] · R · Sponsor
• Rep. Barr, Bob [R-GA-7] · R · Sponsor
• Rep. Barton, Joe [R-TX-6] · R · Sponsor
• Rep. Burton, Dan [R-IN-5] · R · Sponsor
• Rep. Bryant, Ed [R-TN-7] · R · Sponsor
• Rep. Campbell, Tom [R-CA-15] · R · Sponsor
• Rep. Chenoweth-Hage, Helen [R-ID-1] · R · Sponsor
• Sen. Coburn, Tom [R-OK] · R · Sponsor
• Rep. Cox, Christopher [R-CA-48] · R · Sponsor
• Sen. DeMint, Jim [R-SC] · R · Sponsor
• Rep. Doolittle, John T. [R-CA-4] · R · Sponsor
• Rep. Duncan, John J., Jr. [R-TN-2] · R · Sponsor
• Rep. Ganske, Greg [R-IA-4] · R · Sponsor
• Sen. Graham, Lindsey [R-SC] · R · Sponsor
• Rep. Herger, Wally [R-CA-2] · R · Sponsor
• Rep. Hoekstra, Peter [R-MI-2] · R · Sponsor
• Rep. Hunter, Duncan [R-CA-52] · R · Sponsor
• Rep. Hyde, Henry J. [R-IL-6] · R · Sponsor
• Rep. Jones, Walter B., Jr. [R-NC-3] · R · Sponsor
• Rep. Kingston, Jack [R-GA-1] · R · Sponsor
• Rep. Largent, Steve [R-OK-1] · R · Sponsor
• Rep. McInnis, Scott [R-CO-3] · R · Sponsor
• Rep. McIntosh, David M. [R-IN-2] · R · Sponsor
• Rep. Metcalf, Jack [R-WA-2] · R · Sponsor
• Rep. Myrick, Sue Wilkins [R-NC-9] · R · Sponsor
• Rep. Paul, Ron [R-TX-14] · R · Sponsor
• Rep. Pickering, Charles W. "Chip" [R-MS-3] · R · Sponsor
• Rep. Pitts, Joseph R. [R-PA-16] · R · Sponsor
• Rep. Riley, Bob [R-AL-3] · R · Sponsor
• Rep. Salmon, Matt [R-AZ-5] · R · Sponsor
• Rep. Sessions, Pete [R-TX-17] · R · Sponsor
• Rep. Scarborough, Joe [R-FL-1] · R · Sponsor
• Rep. Schaffer, Bob [R-CO-4] · R · Sponsor
• Rep. Shadegg, John B. [R-AZ-3] · R · Sponsor
• Rep. Shays, Christopher [R-CT-4] · R · Sponsor
• Rep. Smith, Christopher H. [R-NJ-4] · R · Sponsor
• Rep. Spence, Floyd [R-SC-2] · R · Sponsor
• Sen. Sununu, John E. [R-NH] · R · Sponsor
• Rep. Terry, Lee [R-NE-2] · R · Sponsor
• Sen. Toomey, Patrick [R-PA] · R · Sponsor
• · hswm00 · Standing

Related records

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