S. 2478 · 114th Congress
Save Access to a Valuable Investment Needed to Generate Savings Act of 2016
- Stage
- In committee
- Sponsor
- Patty Murray
- Introduced
- 2016-02-02
- Latest action
- 2016-02-02 · Introduced in Senate
Summary
Save Access to a Valuable Investment Needed to Generate Savings Act of 2016 or the SAVINGS Act
This bill directs the Department of the Treasury to allow: (1) an individual taxpayer to use a portion or all of a tax refund to purchase U.S. savings bonds in paper form for the taxpayer or for any individual designated by the taxpayer; or (2) an option for a tax return that allows for the gifting of such bonds and that serves individuals who rarely, if ever, have held a bank account and individuals who lack access to the Internet.