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Retirement Security Act of 2001
1/16/2023, 2:48 PM
Congressional Summary of HR 1498
Retirement Security Act of 2001 - Amends the Internal Revenue Code to: (1) allow an individual a tax credit of up to $2,000 for qualified retirement savings contributions; (2) allow an eligible small employer a pension plan startup cost credit of up to $1,000 for the first year and $500 for each of the following two years; and (3) allow an eligible small employer a limited small employer pension plan contribution credit.
Read the Full Bill
Current Status of Bill HR 1498
Bill HR 1498 is currently in the status of Bill Introduced since April 4, 2001. Bill HR 1498 was introduced during Congress 107 and was introduced to the House on April 4, 2001. Bill HR 1498's most recent activity was See H.R.1836. as of August 13, 2001
Bipartisan Support of Bill HR 1498
Total Number of Sponsors
1Democrat Sponsors
1Republican Sponsors
0Unaffiliated Sponsors
0Total Number of Cosponsors
6Democrat Cosponsors
6Republican Cosponsors
0Unaffiliated Cosponsors
0Policy Area and Potential Impact of Bill HR 1498
Primary Policy Focus
TaxationPotential Impact Areas
- Business income tax
- Commerce
- Income tax
- Individual retirement accounts
- Labor and Employment
- Pension funds
- Personal income tax
- Small business
- Tax credits
- Tax refunds
- Tax-deferred compensation plans
Alternate Title(s) of Bill HR 1498
Retirement Security Act of 2001
To amend the Internal Revenue Code of 1986 to allow individuals a refundable credit for elective deferrals and IRA contributions and to allow small employers credits for pension plan startup costs and for pension plan contributions.
Retirement Security Act of 2001
Comments
Sponsors and Cosponsors of HR 1498
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