I 
109TH CONGRESS 
1ST SESSION H. R. 1519
To help American families save, invest, and build a better future, and for 
other purposes. 
IN THE HOUSE OF REPRESENTATIVES 
APRIL 6, 2005
Mr. LARSON of Connecticut (for himself and Mr. EMANUEL) introduced the 
following bill; which was referred to the Committee on Ways and Means 
A BILL 
To help American families save, invest, and build a better 
future, and for other purposes.
Be it enacted by the Senate and House of Representa-
tives of the United States of America in Congress assembled, 
SECTION 1. SHORT TITLE. 
This Act may be cited as the ‘‘Better Future for 
American Families Act’’. 
SEC. 2. MODIFICATIONS TO SAVER’S CREDIT. 
(a) SAVER’S CREDIT.—Section 25B of the Internal 
Revenue Code of 1986 is amended by striking the heading 
thereof and inserting ‘‘THE SAVER’S CREDIT’’.
(b) MODIFICATIONS
TO
APPLICABLE
PERCENT-
AGE.—Subsection (b) of section 25B of the Internal Rev-
enue Code of 1986 is amended to read as follows: 
‘‘(b) APPLICABLE PERCENTAGE.—For purposes of 
this section—
‘‘(1) IN GENERAL.—The applicable percentage 
is 50 percent reduced (but not below zero) by 1 per-
centage point for each phaseout amount by which 
the taxpayer’s adjusted gross income for the taxable 
year exceeds the threshold amount. 
‘‘(2) 
PHASEOUT
AMOUNT; 
THRESHOLD 
AMOUNT.—The phaseout amount and the threshold 
amount shall be determined as follows:
‘‘In the case of an individual filing: 
The phaseout amount is: 
The thresh-
old amount 
is: 
A joint return ...........................................
$400 ...................................
$30,000
A head of household return ......................
$300 ...................................
$22,500
Any other return ......................................
$200 ...................................
$15,000.’’. 
(c) REPEAL OF TERMINATION.—Section 25B of the 
Internal Revenue Code of 1986 is amended by striking 
subsection (h). 
(d) CREDIT REFUNDABLE.—
(1) IN GENERAL.—Section 25B of the Internal 
Revenue Code of 1986, as amended by this Act, is 
hereby moved to subpart C of part IV of subchapter 
A of chapter 1 of such Code (relating to refundable 
credits) and inserted after section 35.
(2) CONFORMING AMENDMENTS.—
(A) Section 24(b)(3)(B) of such Code is 
amended by striking ‘‘sections 23 and 25B’’ 
and inserting ‘‘section 23’’. 
(B) Section 25(e)(1)(C) of such Code is 
amended by striking ‘‘25B,’’. 
(C) Section 26(a)(1) of such Code is 
amended by striking ‘‘sections 23, 24, and 
25B’’ and inserting ‘‘sections 23 and 24’’. 
(D) Section 25B of such Code, as moved 
by paragraph (1), is redesignated as section 36. 
(E) Section 904(h) of such Code is amend-
ed by striking ‘‘sections 23, 24, and 25B’’ and 
inserting ‘‘sections 23 and 24’’. 
(F) Section 1400C of such Code is amend-
ed by striking ‘‘sections 23, 24, and 25B’’ and 
inserting ‘‘section 23 and 24’’. 
(G) The table of sections for subpart C of 
part IV of subchapter A of chapter 1 of such 
Code is amended by striking the item relating 
to section 36 and inserting the following:
‘‘Sec. 36. The Saver’s Credit. 
‘‘Sec. 37. Overpayments of tax.’’.
(H) The table of sections for subpart A of 
part IV of such Code is amended by striking 
the item relating to section 25B.
(I) Section 1324(b)(2) of title 31, United 
States Code, is amended by inserting ‘‘, or en-
acted by the Better Future for American Fami-
lies Act’’ before the period at the end. 
(e) EFFECTIVE DATE.—The amendments made by 
this section shall apply to taxable years beginning after 
December 31, 2004.
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