401Kids Savings Account Act of 2024

[AI summary unavailable — showing source text] [Congressional Bills 118th Congress] [From the U.S. Government Publishing Office] [S. 3716 Introduced in Senate (IS)] <DOC> 118th CONGRESS 2d Session S. 3716 To create children's lifetime savings accounts, and for other purposes. _______________________________________________________________________ IN THE SENATE OF THE UNITED STATES January 31, 2024 Mr. Casey (for himself, Mr. Wyden, Mr. Schumer, Ms. Smith, Mr. Fetterman, and Mr. Blumenthal) introduced the following bill; which was read twice and referred to the Committee on Finance _______________________________________________________________________ A BILL To create children's lifetime savings accounts, and for other purposes. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, SECTION 1. SHORT TITLE. This Act may be cited as the ``401Kids Savings Account Act of 2024''. SEC. 2. 401KIDS ACCOUNT PROGRAMS. (a) In General.--Section 529 of the Internal Revenue Code of 1986 is amended by redesignating subsection (f) as subsection (g) and by inserting after subsection (e) the following new subsection: ``(f) 401Kids Account Programs.-- ``(1) In general.--A qualified tu…