United States · Bill · S
S. 323 (115th)
Universal Savings Account Act
Introduced
7 February 2017
Last action
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Status
Read twice and referred to the Committee on Finance.
Sponsors
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Subjects
Discovery layer
Source updated
10 December 2025
Summary
Universal Savings Account Act This bill amends the Internal Revenue Code to allow for the establishment of Universal Savings Accounts. These accounts shall be tax-exempt and may be opened by any individual who is at least 18 years of age and a U.S. citizen or legal permanent resident. Contributions to these accounts must be in cash and may not exceed $5,500 (adjusted annually for inflation) in any calendar year. Distributions from a Universal Savings Account are excluded from the gross income of the account holder for income tax purposes.
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Votes
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Documents
3 official files
Introduced in Senate (text)
Introduced in Senate · EN · 7 February 2017
Introduced in Senate (PDF)
Introduced in Senate · EN · 7 February 2017
Introduced in Senate
summary · EN · 7 February 2017
Sponsors
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Sources
PoliticalRepo is an index and interpretation layer, not the authoritative legal source.
- Official source: https://www.congress.gov/bill/115th-congress/senate-bill/323
- Open data entity: https://api.congress.gov/v3/bill/115/s/323