Working Parents Flexibility Act of 2019
Bill journey · stage 2 of 5
Under committee review
What it doesSummary introduced in house (Mar 25, 2019)
Working Parents Flexibility Act of 2019
This bill allows tax-exempt parental leave savings accounts for the care of a child. An individual who has earned income from employment during the past 12 months may make tax deductible cash contributions of up to $6,750 in a taxable year to an account. The total contributions to an account for all taxable years may not exceed $24,000. Taxpayers whose adjusted gross income exceeds $250,000 in a taxable year are ineligible for such a tax deduction.
The bill excludes from gross income (1) distributions from a parental leave savings account that are made not later than one year after the birth or adoption of a child of an account holder, and (2) contributions made by an employer to the parental leave savings account of an employee.
What just happenedMar 25, 2019
Referred to the House Committee on Ways and Means.
Who’s behind it
- Introduced in HouseMar 25, 2019
- Mar 25, 2019IntroReferralH11100
Referred to the House Committee on Ways and Means.
Ways and Means Committee - Mar 25, 2019IntroReferralIntro-H
Introduced in House
- Mar 25, 2019IntroReferral1000
Introduced in House