To create children’s lifetime savings accounts, and for other purposes.
Analysis under review: This bill has generated analysis that may be too generic or incomplete. Clause-level evidence remains available below.
Summary
What This Bill Does
This bill, To create children’s lifetime savings accounts, and for other purposes., changes federal law or congressional policy affecting financial institutions, investors, and borrowers. The main policy domain is Finance, Government Operations, Education.
Who Benefits and How
financial institutions, investors, and borrowers may benefit from new authority, funding, eligibility, regulatory clarity, or reduced risk created by the bill.
Who Bears the Burden and How
federal implementing agencies, financial institutions, investors, and borrowers may take on implementation duties, reporting obligations, compliance costs, or oversight responsibilities.
Key Provisions
- Section H19148213BCFE42969E63A682D2752465: 1. Short title This Act may be cited as the 401Kids Savings Account Act of 2024.
- Section H8F1AEA2975A44D0EB8425BC78E97D3F3: 2. 401Kids Account Programs Section 529 of the Internal Revenue Code of 1986 is amended by redesignating subsection (f) as subsection (g) and by inserting...
- Section H9BD7C9E75A9E4BAA94DF7BC63E33BBAA: 3. Establishment of Federal 401Kids Account Program The Secretary of the Treasury shall, not later than December 31, 2024, establish a permanent program, to be...
- Section HEDFF05A181714A559487EBFF95AB8802: 4. Treatment of accounts under certain Federal programs Notwithstanding any other provision of Federal law that requires consideration of one or more financial...
- Section HABEB3E1E296E4372B8EA6DCB8416E303: 5. Disclosure of taxpayer information, etc Subsection (l) of section 6103 of the Internal Revenue Code of 1986 is amended by adding at the end the following...
Evidence Chain:
This summary is generated from the full bill text using AI analysis. Expand "Detailed Analysis" below for identified beneficiaries/burden bearers with clause-level evidence links.
At a Glance
What This Bill Does
This bill, To create children’s lifetime savings accounts, and for other purposes., changes federal law or congressional policy affecting financial institutions, investors, and borrowers.
Key Policy Areas
Finance, Government Operations, Education
Primary Purpose
This bill, To create children’s lifetime savings accounts, and for other purposes., changes federal law or congressional policy affecting financial institutions, investors, and borrowers.
Policy Domains
Whole bill
Identified Gains
- financial institutions, investors, and borrowers
Identified Costs
- federal implementing agencies
- financial institutions, investors, and borrowers
Sponsors
Legislative Progress
IntroducedMr. Beyer (for himself, Ms. DelBene, Mrs. Beatty, Ms. Norton, …
Impact analysis is available but no clear stakeholder effects identified. View clause-level analysis →
Bill Structure & Actor Mappings
Who is "The Secretary" in each section?
- "the_commission"
- → The commission identified in the operative section
- "administrator_of_sba"
- → Administrator of the Small Business Administration
- "secretary_of_treasury"
- → Secretary of the Treasury
- "secretary_of_education"
- → Secretary of Education
We use a combination of our own taxonomy and classification in addition to large language models to assess meaning and potential beneficiaries. High confidence means strong textual evidence. Always verify with the original bill text.
Learn more about our methodology