US HR1938

Bill

US HR1938

Small Employer Retirement Savings Auto-Enrollment Credit Act

Introduced
03/27/2019

In Committee
03/27/2019

Crossed Over

Passed

Dead
12/31/2020

Introduced Session

116th Congress

Bill Summary

To amend the Internal Revenue Code of 1986 to provide a credit to small employers providing an eligible automatic contribution arrangement under a retirement savings plan. This bill allows a three-year $500 business-related tax credit for eligible small employers who include and maintain an automatic contribution arrangement in an employer-sponsored retirement plan. An "eligible employer" is an employer with no more than 100 employees who received at least $5,000 of compensation from the employer for the preceding year.

AI Summary

This bill, the Small Employer Retirement Savings Auto-Enrollment Credit Act, allows a three-year $500 business-related tax credit for eligible small employers who include and maintain an automatic contribution arrangement in an employer-sponsored retirement plan. An "eligible employer" is defined as an employer with no more than 100 employees who received at least $5,000 of compensation from the employer for the preceding year. The credit is part of the general business credit and applies to taxable years beginning after December 31, 2019.

Committee Categories

Budget and Finance

Sponsors (3)

Lori Trahan (D)*, Brian Fitzpatrick (R), Mike Kelly (R),

Last Action

Referred to the House Committee on Ways and Means. (on 03/27/2019)

Official Document

https://www.congress.gov/bill/116th-congress/house-bill/1938/all-info

(7 Companion Bills)

Version:

Document Type	Source Location
State Bill Page	https://www.congress.gov/bill/116th-congress/house-bill/1938/all-info
BillText	https://www.congress.gov/116/bills/hr1938/BILLS-116hr1938ih.pdf
Bill	https://www.congress.gov/116/bills/hr1938/BILLS-116hr1938ih.pdf.pdf

Bill	Bill Name	Last Action	Type
HR1007	Retirement Enhancement and Savings Act of 2019	Referred to the Committee on Ways and Means, and in addition to the Committee on Education and Labor, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.	Related
HR1865	National Law Enforcement Museum Commemorative Coin Act	Became Public Law No: 116-94. (TXT \| PDF)	Related
HR1994	Setting Every Community Up for Retirement Enhancement Act of 2019	Received in the Senate.	Related
HRes389	Providing for consideration of the bill (H.B. 1500) to require the Consumer Financial Protection Bureau to meet its statutory purpose, and for other purposes; providing for consideration of the bill (H.B. 1994) to amend the Internal Revenue Code of 1986 to encourage retirement savings, and for other purposes; providing for proceedings during the period from May 24, 2019, through May 31, 2019; and for other purposes.	Motion to reconsider laid on the table Agreed to without objection.	Similar To
S1431	Retirement Security and Savings Act of 2019	Read twice and referred to the Committee on Finance.	Related
S321	Retirement Security Act of 2019	Read twice and referred to the Committee on Finance. (Sponsor introductory remarks on measure: CR S834-835)	Related
S972	Retirement Enhancement and Savings Act of 2019	Read twice and referred to the Committee on Finance.	Related

Bill > HR1938

summary

Introduced Session

Bill Summary

AI Summary

Committee Categories

Sponsors (3)

Last Action

Official Document

bill text

bill summary

bill summary

bill summary