HR 1177 · 112th Congress · Taxation

K-IRA Act

Introduced 2011-03-17· Sponsored by Rep. Critz, Mark S. [D-PA-12]· House

Bill Progress

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Introduced
2
Committee
3
House Vote
4
Senate
5
Enacted
Latest: Referred to the House Committee on Ways and Means.(2011-03-17)

Plain Language Summary

[AI summary unavailable — showing source text] Kids IRA Act of 2011 or the K-IRA Act - Amends the Internal Revenue Code to establish a tax-exempt individual retirement account for taxpayers under age 26, to be known as a young savers account. Treats such accounts as Roth individual retirement accounts for income tax purposes. Allows an income-based tax deduction for contributions to such accounts, up to $5,000 in any taxable year.…

Summarized by Claude AI · Non-partisan · For informational purposes only

Cosponsors (1)

1 Democrat
Rep. Hinojosa, Ruben [D-TX-15]TX