Summary: H.R.2420 — 115th Congress (2017-2018)All Information (Except Text)

There is one summary for H.R.2420. Bill summaries are authored by CRS.

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Introduced in House (05/11/2017)

This bill amends the Internal Revenue Code to establish a tax-preferred individual retirement account for taxpayers under age 26, to be known as a young savers account. The bill treats such accounts as Roth individual retirement accounts for income tax purposes, with the exception of specified modifications to the rules regarding contribution limits.