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Titles (2)

Short Titles

Short Titles - House of Representatives

Short Titles as Introduced

Financial Security Credit Act of 2015

Official Titles

Official Titles - House of Representatives

Official Title as Introduced

To promote savings by providing a tax credit for eligible taxpayers who contribute to savings products and to facilitate taxpayers receiving this credit and open a designated savings product when they file their Federal income tax returns.

Actions Overview (1)

12/10/2015Introduced in House

All Actions (2)

12/10/2015Referred to the House Committee on Ways and Means.
Action By: House of Representatives
12/10/2015Introduced in House
Action By: House of Representatives

Committees (1)

Committees, subcommittees and links to reports associated with this bill are listed here, as well as the nature and date of committee activity and Congressional report number.

Committee / Subcommittee Date Activity Reports
House Ways and Means12/10/2015 Referred to

No related bill information was received for H.R.4236.

Subjects (8)

Latest Summary (1)

There is one summary for H.R.4236. View summaries

Shown Here:
Introduced in House (12/10/2015)

Financial Security Credit Act of 2015

This bill amends the Internal Revenue Code to allow an income-based tax credit equal to the lesser of $500 or 50% of the total amount deposited or contributed into designated savings products in a taxable year (financial security credit). A "designated savings product" is a qualified retirement plan, a qualified tuition plan, a Coverdell education savings account, a U.S. savings bond, a certificate of deposit with a duration of at least eight months, a savings account, or other savings product considered appropriate by the Department of the Treasury.

The Internal Revenue Service must notify individual taxpayers who may qualify for a financial security credit that they have the option of an electronic direct deposit if they deposit any portion of their tax refund into a designated savings product.