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Public Law113th CongressFinance and Financial Sector
H.R. 3374Became Law

American Savings Promotion Act

This bill became law

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Law

What it doesSummary public law (Dec 18, 2014)

(This measure has not been amended since it was passed by the House on September 15, 2014. The summary of that version is repeated here.)

American Savings Promotion Act - Amends the Revised Statutes of the United States, the Federal Reserve Act, the Federal Deposit Insurance Act, and the Home Owners' Loan Act to authorize covered financial institutions to conduct a contest, known as a "savings promotion raffle," in which the sole consideration required for a chance of winning designated prizes is obtained by the deposit of a specified amount of money in a savings account or program, where each ticket or entry has an equal chance of being drawn. Subjects such drawing contest to regulations promulgated by the appropriate prudential regulator.

Excludes such "savings promotion raffle" from the prohibition against a covered financial institution's dealing in "lottery" tickets.

Amends the federal criminal code to exempt: (1) savings promotion raffles conducted by an insured depository institution or an insured credit union from specified prohibitions against interstate and foreign travel or transportation in aid of racketeering enterprises, and (2) any savings promoton raffle from the prohibition against illegal gambling businesses.

What just happenedDec 18, 2014

Became Public Law No: 113-251.

Who’s behind it

Rep. Kilmer, Derek [D-WA-6](D-WA)Sponsor
31 cosponsors20 D11 R
Read on Congress.gov
31cosponsors3committees24actions1related bills8subjects
  1. Dec 18, 2014President

    Became Public Law No: 113-251.

  2. Dec 18, 2014BecameLaw36000

    Became Public Law No: 113-251.

  3. Dec 18, 2014President

    Signed by President.

  4. Dec 18, 2014BecameLaw36000

    Signed by President.

  5. Dec 12, 2014Floor

    Presented to President.

  6. Dec 12, 2014President28000

    Presented to President.

  7. Dec 11, 2014Floor

    Message on Senate action sent to the House.

  8. Dec 10, 2014Floor

    Passed Senate without amendment by Unanimous Consent.

  9. Dec 10, 2014Floor17000

    Passed/agreed to in Senate: Passed Senate without amendment by Unanimous Consent.

  10. Dec 10, 2014Discharge

    Senate Committee on Banking, Housing, and Urban Affairs discharged by Unanimous Consent. (consideration: CR S6580)

    Banking, Housing, and Urban Affairs Committee
  11. Dec 10, 2014Committee14500

    Senate Committee on Banking, Housing, and Urban Affairs discharged by Unanimous Consent.(consideration: CR S6580)

    Banking, Housing, and Urban Affairs Committee
  12. Sep 16, 2014IntroReferral

    Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

    Banking, Housing, and Urban Affairs Committee
  13. Sep 15, 2014FloorH38310

    Motion to reconsider laid on the table Agreed to without objection.

  14. Sep 15, 2014FloorH37300

    On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote. (text: CR H7504-7505)

  15. Sep 15, 2014Floor8000

    Passed/agreed to in House: On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote.(text: CR H7504-7505)

  16. Sep 15, 2014FloorH8D000

    DEBATE - The House proceeded with forty minutes of debate on H.R. 3374.

  17. Sep 15, 2014FloorH30000

    Considered under suspension of the rules. (consideration: CR H7504-7506)

  18. Sep 15, 2014FloorH30300

    Mr. Fitzpatrick moved to suspend the rules and pass the bill, as amended.

  19. Jul 15, 2014Committee

    Hearings Held by the Subcommittee on Financial Institutions and Consumer Credit Prior to Referral.

    Consumer Protection and Financial Institutions Subcommittee
  20. Jan 9, 2014Committee

    Referred to the Subcommittee on Crime, Terrorism, Homeland Security, and Investigations.

    Crime and Federal Government Surveillance Subcommittee
  21. Oct 29, 2013IntroReferralH11100

    Referred to the Committee on Financial Services, and in addition to the Committee on the Judiciary, 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.

    Judiciary Committee
  22. Oct 29, 2013IntroReferralH11100

    Referred to the Committee on Financial Services, and in addition to the Committee on the Judiciary, 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.

    Financial Services Committee
  23. Oct 29, 2013IntroReferralIntro-H

    Introduced in House

  24. Oct 29, 2013IntroReferral1000

    Introduced in House

Public LawDec 18, 201449

(This measure has not been amended since it was passed by the House on September 15, 2014. The summary of that version is repeated here.)

American Savings Promotion Act - Amends the Revised Statutes of the United States, the Federal Reserve Act, the Federal Deposit Insurance Act, and the Home Owners' Loan Act to authorize covered financial institutions to conduct a contest, known as a "savings promotion raffle," in which the sole consideration required for a chance of winning designated prizes is obtained by the deposit of a specified amount of money in a savings account or program, where each ticket or entry has an equal chance of being drawn. Subjects such drawing contest to regulations promulgated by the appropriate prudential regulator.

Excludes such "savings promotion raffle" from the prohibition against a covered financial institution's dealing in "lottery" tickets.

Amends the federal criminal code to exempt: (1) savings promotion raffles conducted by an insured depository institution or an insured credit union from specified prohibitions against interstate and foreign travel or transportation in aid of racketeering enterprises, and (2) any savings promoton raffle from the prohibition against illegal gambling businesses.

Passed Senate without amendmentDec 10, 201482

(This measure has not been amended since it was passed by the House on September 15, 2014. The summary of that version is repeated here.)

American Savings Promotion Act - Amends the Revised Statutes of the United States, the Federal Reserve Act, the Federal Deposit Insurance Act, and the Home Owners' Loan Act to authorize covered financial institutions to conduct a contest, known as a "savings promotion raffle," in which the sole consideration required for a chance of winning designated prizes is obtained by the deposit of a specified amount of money in a savings account or program, where each ticket or entry has an equal chance of being drawn. Subjects such drawing contest to regulations promulgated by the appropriate prudential regulator.

Excludes such "savings promotion raffle" from the prohibition against a covered financial institution's dealing in "lottery" tickets.

Amends the federal criminal code to exempt: (1) savings promotion raffles conducted by an insured depository institution or an insured credit union from specified prohibitions against interstate and foreign travel or transportation in aid of racketeering enterprises, and (2) any savings promoton raffle from the prohibition against illegal gambling businesses.

Passed House amendedSep 15, 201436

American Savings Promotion Act - Amends the Revised Statutes of the United States, the Federal Reserve Act, the Federal Deposit Insurance Act, and the Home Owners' Loan Act to authorize covered financial institutions to conduct a contest, known as a "savings promotion raffle," in which the sole consideration required for a chance of winning designated prizes is obtained by the deposit of a specified amount of money in a savings account or program, where each ticket or entry has an equal chance of being drawn. Subjects such a drawing contest to regulations promulgated by the appropriate prudential regulator.

Excludes such a "savings promotion raffle" from the prohibition against a covered financial institution's dealing in "lottery" tickets.

Amends the federal criminal code to exempt: (1) savings promotion raffles conducted by an insured depository institution or an insured credit union from specified prohibitions against interstate and foreign travel or transportation in aid of racketeering enterprises, and (2) any savings promoton raffle from the prohibition against illegal gambling businesses.

Introduced in HouseOct 29, 2013

American Savings Promotion Act - Amends the Revised Statutes of the United States, the Federal Reserve Act, the Federal Deposit Insurance Act, and the Home Owners' Loan Act to authorize covered financial institutions to conduct a contest, known as a "savings promotion raffle," in which the sole consideration required for a chance of winning designated prizes is obtained by the deposit of a specified amount of money in a savings account or program, where each ticket or entry has an equal chance of being drawn. Subjects such a drawing contest to regulations promulgated by the appropriate prudential regulator.

Excludes such a "savings promotion raffle" from the prohibition against a covered financial institution's dealing in "lottery" tickets.

Amends the federal criminal code to exempt savings promotion raffles conducted by an insured depository institution or an insured credit union from specified prohibitions against interstate and foreign travel or transportation in aid of racketeering enterprises.

American Savings Promotion Act — Informed