Savings and Investment Incentive Act of 1994

Summary

TABLE OF CONTENTS: Title I: Retirement Savings Incentives Subtitle A: Restoration of IRA Deduction Subtitle B: Nondeductible Tax-Free IRAs Title II: Penalty-Free Distributions Title III: Aid to Families with Dependent Children Savings and Investment Incentive Act of 1994 - Title I: Retirement Savings Incentives - Subtitle A: Restoration of IRA Deduction - Amends the Internal Revenue Code to remove the limitation on the deductibility of contributions to individual retirement plans (IRAs) by active participants in employer-maintained plans, thereby restoring the IRA deduction. Provides an inflation adjustment after 1995. Allows certain spouses a full deduction for contributions to an IRA. Subtitle B: Nondeductible Tax-Free IRAs - Allows individuals to establish individual retirement plus (IRA Plus) accounts with tax treatment similar to that for individual retirement plans. Makes contributions to such accounts nondeductible. Title II: Penalty-Free Distributions - Allows distributions from certain retirement plans without penalty to purchase first homes, pay higher education expenses and financially devastating medical expenses, and assist certain unemployed individuals. Title III: Aid to Families with Dependent Children - Amends part A (Aid to Families with Dependent Children) (AFDC) of title IV of the Social Security Act to exclude from AFDC eligibility determinations certain income and resources that are to be used for education, training, and employability purposes. Requires the Secretary of Health and Human Services to report to the Congress on a revision of the AFDC limit on automobiles in order to increase the employability of AFDC recipients.

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

Timeline

1. 20 August 1994

   Introduced

   Referred to the House Committee on Ways and Means.

   Source: IntroReferral

2. 20 August 1994

   Introduced

   Introduced in House

   Source: IntroReferral

3. 20 August 1994

   Introduced

   Introduced in House

   Source: IntroReferral

4. 21 August 1994

   Introduced

   Sponsor introductory remarks on measure. (CR H8943)

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

• Introduced in House · 20 August 1994 · Download file

Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 20 August 1994

  ViewDownloadOpen at official source

• Introduced in House (PDF)

  Introduced in House · EN · 20 August 1994

  ViewDownloadOpen at official source

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• Introduced in House

  summary · EN · 20 August 1994

  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. Pickle, J. J. [D-TX-10] · D · Sponsor
• Rep. Thomas, William M. [R-CA-21] · R · Sponsor
• Rep. Neal, Richard E. [D-MA-1] · D · Sponsor
• Rep. Mazzoli, Romano L. [D-KY-3] · D · Sponsor
• Rep. Gekas, George W. [R-PA-17] · R · Sponsor
• Rep. Andrews, Michael [D-TX-25] · D · Sponsor
• Rep. Johnson, Nancy L. [R-CT-5] · R · Sponsor
• Rep. Sundquist, Don [R-TN-7] · R · Sponsor
• Rep. Crane, Philip M. [R-IL-8] · R · Sponsor
• Rep. McNulty, Michael R. [D-NY-23] · D · Sponsor
• Rep. Hancock, Mel [R-MO-7] · R · Sponsor
• Rep. Ackerman, Gary L. [D-NY-5] · D · Sponsor
• Rep. Fields, Jack [R-TX-8] · R · Sponsor
• Rep. Lipinski, William O. [D-IL-3] · D · Sponsor
• Rep. Green, Gene [D-TX-29] · D · Sponsor
• Rep. Hutto, Earl [D-FL-1] · D · Sponsor
• Rep. Wilson, Charles [D-TX-2] · D · Sponsor
• Rep. Eshoo, Anna G. [D-CA-18] · D · Sponsor
• Rep. Levy, David A. [R-NY-4] · R · Sponsor
• Rep. Fazio, Vic [D-CA-3] · D · Sponsor
• Rep. Jefferson, William J. [D-LA-2] · D · Sponsor
• Rep. McCrery, Jim [R-LA-4] · R · Sponsor
• Rep. Fish, Hamilton, Jr. [R-NY-19] · R · Sponsor
• Rep. Sarpalius, Bill [D-TX-13] · D · Sponsor
• Rep. Hastings, Alcee L. [D-FL-20] · D · Sponsor
• Rep. Hayes, James A. [D-LA-7] · D · Sponsor
• Rep. Johnson, Eddie Bernice [D-TX-30] · D · Sponsor
• Rep. Brown, George E., Jr. [D-CA-42] · D · Sponsor
• Rep. Frost, Martin [D-TX-24] · D · Sponsor
• Rep. Emerson, Bill [R-MO-8] · R · Sponsor
• Rep. Greenwood, James C. [R-PA-8] · R · Sponsor
• Rep. Packard, Ron [R-CA-48] · R · Sponsor
• Rep. Lewis, Jerry [R-CA-41] · R · Sponsor
• Rep. Hyde, Henry J. [R-IL-6] · R · Sponsor
• Rep. Doolittle, John T. [R-CA-4] · R · Sponsor
• Rep. Rogers, Harold [R-KY-5] · R · Sponsor
• Rep. Lewis, Thomas F. [R-FL-12] · R · Sponsor
• Rep. Hefner, W. G. (Bill) [D-NC-8] · D · Sponsor
• Rep. Evans, Lane [D-IL-17] · D · Sponsor
• Rep. Rahall, Nick J., II [D-WV-3] · D · Sponsor
• Rep. Swift, Al [D-WA-2] · D · Sponsor
• Rep. Hansen, James V. [R-UT-1] · R · Sponsor
• Rep. Bryant, John W. [D-TX-5] · D · Sponsor
• Rep. Spence, Floyd [R-SC-2] · R · Sponsor
• Rep. Callahan, Sonny [R-AL-1] · R · Sponsor
• Rep. Camp, Dave [R-MI-4] · R · Sponsor
• Rep. Torkildsen, Peter G. [R-MA-6] · R · Sponsor
• Rep. Calvert, Ken [R-CA-41] · R · Sponsor

Showing 48 of 88 sponsors and actors.

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