118th Congress · SENATE BILLBILL

S. 441 — American Opportunity Accounts Act

“A bill to establish American opportunity accounts, and for other purposes.”

Taxation

Introduced Feb 15, 2023

Last action Feb 15, 2023

Pipeline · Bill → Law

Step 1

Introduced

Feb 15, 2023

Step 2

Referred

Feb 15, 2023

Finance

Step 3

Committee

Step 4

Senate

Step 5

House floor

Step 6

Resolve Changes

Step 7

Signed

SummaryCRS Summary

This bill establishes tax-exempt American Opportunity Accounts to provide children at birth with a $1,000 savings account with annual contributions up to $2,000 depending on family income. The accounts are available to children at age 18 for specified purposes, including educational expenses, home ownership, and investment that provides long-term returns.

Provisions · 12 sectionsIntroduced in Senate

Timeline · 2 actions

Feb 15, 2023

Introduced in Senate

Feb 15, 2023

Read twice and referred to the Committee on Finance.