To amend the Internal Revenue Code of 1986 to provide rules for automatic contribution retirement plans and arrangements.
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 amend the Internal Revenue Code of 1986 to provide rules for automatic contribution retirement plans and arrangements., changes federal law or congressional policy affecting financial institutions, investors, and borrowers. The main policy domain is Finance, Labor, Government Operations.
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 HACFA4E98515247F6A365B98B67EB81A0: 1. Short title; table of contents, etc This Act may be cited as the Automatic IRA Act of 2024. The table of contents for this Act is as follows: Except as...
- Section H39AC10D977D24251A8BB7A96AEBF5B02: 2. Automatic contribution plan or arrangement Section 414 is amended by adding at the end the following: (dd)Automatic contribution plan or arrangementFor...
- Section H0BE789081689421FB6918B1A182567DB: 4980J. Failure to maintain or facilitate automatic contribution plans or arrangements There is hereby imposed a tax on the failure of an employer to maintain...
- Section HB6D88E7C3AAB462BB546DCEAADC5890A: 3. Credit for certain small employer automatic IRA arrangements Subpart D of part IV of subchapter A of chapter 1 is amended by adding at the end the following...
- Section H9421DE7800F74CD493D79EAB05EFB95F: 45BB. Credit for certain small employer automatic IRA arrangements For purposes of section 38, in the case of an eligible employer, the small employer...
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 amend the Internal Revenue Code of 1986 to provide rules for automatic contribution retirement plans and arrangements., changes federal law or congressional policy affecting financial institutions, investors, and borrowers.
Key Policy Areas
Finance, Labor, Government Operations
Primary Purpose
This bill, To amend the Internal Revenue Code of 1986 to provide rules for automatic contribution retirement plans and arrangements., 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
Legislative Progress
IntroducedMr. Neal introduced the following bill; which was referred to …
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?
- "secretary_of_treasury"
- → Secretary of the Treasury
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.
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