United States 114th Congress Status: Died 1 D cosponsors

HR 4608 — SAVE for Small Businesses Act Savings Accounts for a Variable Economy for Small Businesses Act

Last action — Referred to the House Committee on Ways and Means.

Track this bill free

No card. One bill, free forever — alerts when it moves.

  1. ✓
    Introduced
  2. ✓
    In Committee
  3. Died in session

This bill died with 114th Congress. It reached “In Committee” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.

This bill is no longer active — its legislative session has ended, so there is no live prognosis. It would have to be reintroduced in the current session to move again.

Summary

SAVE for Small Businesses Act Savings Accounts for a Variable Economy for Small Businesses Act This bill amends the Internal Revenue Code to: (1) provide for tax-exempt small business savings accounts, and (2) allow tax deductible contributions to such accounts of not more than 10% of the gross profits of an eligible small business (a business employing an average of 50 or fewer full-time employees) for the preceding taxable year. The bill excludes qualified distributions from such accounts from gross income for income tax purposes. A "qualified distribution" is: (1) any amount that is distributed from a small business savings account during a specified period of economic hardship, and (2) the distribution of which is certified as being part of a plan that provides for the reinvestment of such distribution for the funding of worker hiring or financial stabilization for the purposes of job retention or creation. The Secretary of the Treasury shall: (1) establish minimum standards for small business savings accounts that seek to minimize fees and risk of loss of principal, and (2) ensure a range of investment risk options available to account beneficiaries.

Bill Text

We don't have the full text on file for this bill yet.

Read HR 4608 on the official United States source →

Action History

  1. Referred to the House Committee on Ways and Means.

  2. Introduced in House

Sponsors

Sponsorship breakdown

Export CSV (upgrade) →

1 sponsors · 0 co-sponsors · 546 not signed on

Sponsors (1)

Co-sponsors (0)

None.

Not signed on (546)

546 members have not signed on to this bill.

Show all 546 →

"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.

Whip count is in markup. Polling the chamber and every recorded vote this session. Only the first open is slow. It’s instant for you after this. Calling the roll · Tallying · Engrossing

Subjects

taxation finance labor
Cross-referencing the record. Reading this bill against every other bill in the corpus by meaning, not keywords. Only the first open is slow. It’s instant for you after this. Matching · Ranking · Engrossing

Frequently asked questions

What does HR 4608 do?
SAVE for Small Businesses Act Savings Accounts for a Variable Economy for Small Businesses Act This bill amends the Internal Revenue Code to: (1) provide for tax-exempt small business savings accounts, and (2) allow tax deductible contributions to such accounts of not more than 10% of the gross profits of an eligible small business (a business employing an average of 50 or fewer full-time employees) for the preceding taxable year. The bill excludes qualified distributions from such accounts from gross income for income tax purposes. A "qualified distribution" is: (1) any amount that is distributed from a small business savings account during a specified period of economic hardship, and (2) the distribution of which is certified as being part of a plan that provides for the reinvestment of such distribution for the funding of worker hiring or financial stabilization for the purposes of job retention or creation. The Secretary of the Treasury shall: (1) establish minimum standards for small business savings accounts that seek to minimize fees and risk of loss of principal, and (2) ensure a range of investment risk options available to account beneficiaries.
Who sponsors HR 4608?
HR 4608 is sponsored by Steve Israel (D).
What is the current status of HR 4608?
This bill died with 114th Congress. It reached “In Committee” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.
Where can I track HR 4608?
Track HR 4608 free on One Click Politics — get push/email alerts when it moves.

Make your voice heard on HR 4608

Find the representatives who decide this bill and tell them where you stand — for yourself, or mobilize your whole list in one click with One Click Politics advocacy software.

Find my representatives → Run a campaign

Stay ahead of HR 4608

Last checked for changes about 12 hours ago · updated continuously

One Click Politics tracks every bill in Congress and all 50 states.

Track this bill →