summary
Introduced
06/29/2017
06/29/2017
In Committee
06/29/2017
06/29/2017
Crossed Over
Passed
Dead
12/31/2018
12/31/2018
Introduced Session
115th Congress
Bill Summary
Graduate Student Savings Act of 2017 This bill amends the Internal Revenue Code to allow funds paid to an individual to aid in the pursuit of graduate or postdoctoral study or research to be saved in an Individual Retirement Account (IRA). The bill permits the funds to be considered compensation for purposes of current law provisions that limit annual deductible IRA contributions to the lesser of: (1) the deductible amount permitted under current law, or (2) the compensation includible in the individual's gross income for the year.
AI Summary
This bill amends the Internal Revenue Code to allow funds paid to individuals to aid in the pursuit of graduate or postdoctoral study or research to be saved in an Individual Retirement Account (IRA). The bill permits these funds to be considered compensation for the purposes of current law provisions that limit annual deductible IRA contributions to the lesser of: (1) the deductible amount permitted under current law, or (2) the compensation includible in the individual's gross income for the year. This change applies to taxable years beginning after December 31, 2016.
Committee Categories
Budget and Finance
Sponsors (7)
Joseph Kennedy (D)*,
Jim Banks (R),
Bradley Byrne (R),
Luke Messer (R),
Seth Moulton (D),
Richard Neal (D),
Edward Royce (R),
Last Action
Referred to the House Committee on Ways and Means. (on 06/29/2017)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.congress.gov/bill/115th-congress/house-bill/3136/all-info |
| BillText | https://www.congress.gov/115/bills/hr3136/BILLS-115hr3136ih.pdf |
| Bill | https://www.congress.gov/115/bills/hr3136/BILLS-115hr3136ih.pdf.pdf |
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