Automatic IRA Act of 2007

Summary

Automatic IRA Act of 2007 - Amends the Internal Revenue Code to: (1) require certain small employers who do not offer qualified retirement plans or arrangements to their employees to allow eligible employees to participate in a payroll deposit individual retirement account (IRA) arrangement (automatic IRAs); (2) allow employers who do not have more than 100 employees a tax credit for costs associated with establishing a payroll deposit IRA arrangement; and (3) treat automatic IRAs as individual retirement accounts (and as Roth IRAs) for income tax purposes. Establishes in the executive branch the TSP II Board to establish policies and procedures relating to payroll deposit IRA arrangements.

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Timeline

1. 18 April 2007

   Introduced

   Read twice and referred to the Committee on Finance.

   Source: IntroReferral

2. 18 April 2007

   Introduced

   Introduced in Senate

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

• Introduced in Senate · 18 April 2007 · Download file

Documents

3 official files

• Introduced in Senate (text)

  Introduced in Senate · EN · 18 April 2007

  ViewDownloadOpen at official source

• Introduced in Senate (PDF)

  Introduced in Senate · EN · 18 April 2007

  ViewDownloadOpen at official source

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• Introduced in Senate

  summary · EN · 18 April 2007

  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

• Sen. Bingaman, Jeff [D-NM] · D · Sponsor
• Sen. Smith, Gordon H. [R-OR] · R · Sponsor
• Sen. Kerry, John F. [D-MA] · D · Sponsor
• Sen. Snowe, Olympia J. [R-ME] · R · Sponsor
• Sen. Harkin, Tom [D-IA] · D · Sponsor
• Sen. Casey, Robert P., Jr. [D-PA] · D · Cosponsor
• Sen. Mikulski, Barbara A. [D-MD] · D · Cosponsor
• Sen. Roberts, Pat [R-KS] · R · Cosponsor
• · ssfi00 · Standing

Related records

• related to → Automatic IRA Act of 2007