HR 1377 · 114th Congress · Taxation
RAYS Act
Bill Progress
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Introduced2
Committee3
House Vote4
Senate5
EnactedLatest: Referred to the House Committee on Ways and Means.(2015-03-16)
Plain Language Summary
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Roth Accounts for Youth Savings Act of 2015 or the RAYS Act This bill amends the Internal Revenue Code to allow dependents of a taxpayer to establish a tax-preferred savings account similar to the existing Roth Individual Retirement Account, to be known as a Roth Account for Youth. Any amounts in such an account will be disregarded for purposes of determining elibility for benefits or assistance under a means-tested federal benefit program.…
Summarized by Claude AI · Non-partisan · For informational purposes only
Cosponsors (5)
3 Democrats2 Republicans