Setting Every Community Up for Retirement Enhancement Act of 2019

Bill: 116-hr-1994
Sponsor: Rep. Neal, Richard E. [D-MA-1]
Introduced: 2019-03-29 in the House
Policy area: Taxation
Subjects: Administrative law and regulatory procedures
Adoption and foster care
Aging
Bank accounts, deposits, capital
Department of Labor
Elementary and secondary education
Emergency medical services and trauma care
Employee benefits and pensions
Financial services and investments
Fires
First responders and emergency personnel
Government information and archives
Health personnel
Higher education
Income tax credits
Income tax deductions
Income tax deferral
Income tax exclusion
Income tax rates
Interest, dividends, interest rates
News media and reporting
Sales and excise taxes
Small business
Social work, volunteer service, charitable organizations
State and local government operations
Student aid and college costs
Tax administration and collection, taxpayers
Tax treatment of families
Tax-exempt organizations
Temporary and part-time employment
Wages and earnings

Summary:
action_date: 2019-03-29
text: 

Setting Every Community Up for Retirement Enhancement Act of 2019 

 
This bill modifies the requirements for employer-provided retirement plans, individual retirement accounts (IRAs), and other tax-favored savings accounts. 
 
With respect to employer-provided retirement plans, the bill modifies requirements regarding 
 
 
 automatic enrollment and nonelective contributions;
 
 tax credits for small employers that establish certain plans;
 
 loans;
 
 lifetime income options;
 
 the treatment of custodial accounts upon termination of section 403(b) plans;
 
 retirement income accounts for church-controlled organizations;
 
 the eligibility rules for certain long-term, part-time employees; 
 
 required minimum distributions;
 
 nondiscrimination rules; and 
 
 minimum funding standards for community newspaper plans. 
 
 
The bill also includes provisions that 
 
 
 treat taxable non-tuition fellowship and stipend payments as compensation for the purpose of an IRA, 
 
repeal the maximum age for traditional IRA contributions, 
 
 treat difficulty of care payments as compensation for determining contribution limits for retirement accounts,
 
 allow penalty-free withdrawals from retirement plans if a child is born or adopted, 
 
 expand the purposes for which qualified tuition programs (commonly known as 529 plans) may be used, 
 
 reinstate and increase the tax exclusion for certain benefits provided to volunteer firefighters and emergency medical responders, 
 
 increase penalties for failing to file tax returns, and 
 
 require the Internal Revenue Service to share tax information with U.S. Customs Border Protection to administer the heavy vehicle use tax. 
 

action_date: 2019-05-16
text: 

Setting Every Community Up for Retirement Enhancement Act of 2019 

 
This bill modifies the requirements for employer-provided retirement plans, individual retirement accounts (IRAs), and other tax-favored savings accounts. 
 
With respect to employer-provided retirement plans, the bill modifies requirements regarding 
 
 
multiple employer plans;
 
 automatic enrollment and nonelective contributions;
 
 tax credits for small employers that establish certain plans;
 
 loans;
 
 lifetime income options;
 
 the treatment of custodial accounts upon termination of section 403(b) plans;
 
 retirement income accounts for church-controlled organizations;
 
 the eligibility rules for certain long-term, part-time employees; 
 
 required minimum distributions;
 
 nondiscrimination rules; 
 
 minimum funding standards for community newspaper plans; and
 
Pension Benefit Guaranty Corporation premiums for CSEC plans (multiple employer plans maintained by certain charities or cooperatives).
 
 
The bill also includes provisions that 
 
 
 treat taxable non-tuition fellowship and stipend payments as compensation for the purpose of an IRA, 
 
repeal the maximum age for traditional IRA contributions, 
 
 treat difficulty of care payments as compensation for determining contribution limits for retirement accounts,
 
 allow penalty-free withdrawals from retirement plans if a child is born or adopted, 
 
 expand the purposes for which qualified tuition programs (commonly known as 529 plans) may be used, 
 
 reinstate and increase the tax exclusion for certain benefits provided to volunteer firefighters and emergency medical responders, 
 
 increase penalties for failing to file tax returns, and 
 
 require the Internal Revenue Service to share tax information with U.S. Customs Border Protection to administer the heavy vehicle use tax. 
 

action_date: 2019-05-23
text: 

Setting Every Community Up for Retirement Enhancement Act of 2019 

 
This bill modifies the requirements for employer-provided retirement plans, individual retirement accounts (IRAs), and other tax-favored savings accounts. 
 
With respect to employer-provided retirement plans, the bill modifies requirements regarding 
 
 
 automatic enrollment and nonelective contributions;
 
 tax credits for small employers that establish certain plans;
 
 loans;
 
 lifetime income options;
 
 the treatment of custodial accounts upon termination of section 403(b) plans;
 
 retirement income accounts for church-controlled organizations;
 
 the eligibility rules for certain long-term, part-time employees; 
 
 required minimum distributions;
 
 nondiscrimination rules; and 
 
 minimum funding standards for community newspaper plans. 
 
 
The bill also includes provisions that 
 
 
 treat taxable non-tuition fellowship and stipend payments as compensation for the purpose of an IRA, 
 
repeal the maximum age for traditional IRA contributions, 
 
 treat difficulty of care payments as compensation for determining contribution limits for retirement accounts,
 
 allow penalty-free withdrawals from retirement plans if a child is born or adopted, 
 
 expand the purposes for which qualified tuition programs (commonly known as 529 plans) may be used, 
 
 reinstate and increase the tax exclusion for certain benefits provided to volunteer firefighters and emergency medical responders, 
 
 increase penalties for failing to file tax returns, and 
 
 require the Internal Revenue Service to share tax information with U.S. Customs Border Protection to administer the heavy vehicle use tax.
 


Legislative actions:
action_date: 2019-06-03
text: Received in the Senate.
action_date: 2019-05-23
text: The Clerk was authorized to correct section numbers, punctuation, and cross references, and to make other necessary technical and conforming corrections in the engrossment of H.R. 1994.
action_date: 2019-05-23
text: Motion to reconsider laid on the table Agreed to without objection.
action_date: 2019-05-23
text: On passage Passed by the Yeas and Nays: 417 - 3 (Roll no. 231). (text: CR H4124-4135)
action_date: 2019-05-23
text: Passed/agreed to in House: On passage Passed by the Yeas and Nays: 417 - 3 (Roll no. 231).(text: CR H4124-4135)
action_date: 2019-05-23
text: On motion to recommit with instructions Failed by recorded vote: 200 - 222 (Roll no. 230).
action_date: 2019-05-23
text: The previous question on the motion to recommit with instructions was ordered without objection.
action_date: 2019-05-23
text: DEBATE - The House proceeded with 10 minutes of debate on the McHenry motion to recommit with instructions. The instructions contained in the motion seek to require the bill to be reported back to the House with an amendment to add a new section at the end of title IV entitled "Reports by Taxpayers Engaged in Boycotts Etc. Affecting Israel"
action_date: 2019-05-23
text: Mr. McHenry moved to recommit with instructions to the Committee on Ways and Means. (text: CR H4147)
action_date: 2019-05-23
text: Considered as unfinished business. (consideration: CR H4146-4149)
action_date: 2019-05-23
text: POSTPONED PROCEEDINGS - Pursuant to clause 1(c) of Rule 19, the Chair postponed further proceedings on H.R. 1994.
action_date: 2019-05-23
text: The previous question was ordered pursuant to the rule.
action_date: 2019-05-23
text: DEBATE - The House proceeded with one hour of debate on H.R. 1994.
action_date: 2019-05-23
text: Rule provides for consideration of H.R. 1500 and H.R. 1994. The resolution provides for one hour of debate on H.R. 1500, under a structured rule, and provides for one hour of debate on H.R. 1994, under a closed rule. The resolution provides for proceedings during the period from May 24, 2019, through May 31, 2019, and provides for motions to suspend the rules on the legislative day of May 23, 2019.
action_date: 2019-05-23
text: Considered under the provisions of rule H. Res. 389. (consideration: CR H4124-4146)
action_date: 2019-05-21
text: Rule H. Res. 389 passed House.
action_date: 2019-05-20
text: Rules Committee Resolution H. Res. 389 Reported to House. Rule provides for consideration of H.R. 1500 and H.R. 1994. The resolution provides for one hour of debate on H.R. 1500, under a structured rule, and provides for one hour of debate on H.R. 1994, under a closed rule. The resolution provides for proceedings during the period from May 24, 2019, through May 31, 2019, and provides for motions to suspend the rules on the legislative day of May 23, 2019.
action_date: 2019-05-16
text: Placed on the Union Calendar, Calendar No. 42.
action_date: 2019-05-16
text: Committee on Education and Labor discharged.
action_date: 2019-05-16
text: Committee on Education and Labor discharged.
action_date: 2019-05-16
text: Reported (Amended) by the Committee on Ways and Means. H. Rept. 116-65, Part I.
action_date: 2019-05-16
text: Reported (Amended) by the Committee on Ways and Means. H. Rept. 116-65, Part I.
action_date: 2019-04-02
text: Ordered to be Reported by Voice Vote.
action_date: 2019-04-02
text: Committee Consideration and Mark-up Session Held.
action_date: 2019-03-29
text: Referred to the Committee on Ways and Means, and in addition to the Committee on Education and Labor, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
action_date: 2019-03-29
text: Referred to the Committee on Ways and Means, and in addition to the Committee on Education and Labor, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
action_date: 2019-03-29
text: Introduced in House
action_date: 2019-03-29
text: Introduced in House