Did not become law. It stopped in the House of Representatives's Public Health and Human Services Committee on February 1, 2011. The 2011 session has ended.
2011 Regular Session
House Bill 426
Family Savings Initiative Act; create.
What it does
The synopsis the Legislature published with the bill.
AN ACT TO BE KNOWN AS THE FAMILY SAVINGS INITIATIVE ACT; TO PROVIDE FOR THE ESTABLISHMENT OF INDIVIDUAL DEVELOPMENT ACCOUNTS DESIGNED TO PROVIDE INDIVIDUALS AND FAMILIES WITH LIMITED MEANS AN OPPORTUNITY TO ACCUMULATE ASSETS, FACILITATE AND MOBILIZE SAVINGS, PROMOTE HOME OWNERSHIP, MICROENTERPRISE DEVELOPMENT, AND EDUCATION, AND STABILIZE FAMILIES AND BUILD COMMUNITIES; TO PROVIDE THAT THE DEPARTMENT OF HUMAN SERVICES SHALL ENTER INTO CONTRACTS WITH FIDUCIARY ORGANIZATIONS TO CARRY OUT THE PROVISIONS OF THIS ACT; TO AUTHORIZE STATE RESIDENTS TO OPEN AN INDIVIDUAL DEVELOPMENT ACCOUNT UPON APPROVAL OF A FIDUCIARY ORGANIZATION; TO PROVIDE THAT THE FIDUCIARY ORGANIZATION SHALL APPROVE THE APPLICATION ONLY IF CERTAIN CRITERIA ARE MET; TO SPECIFY THE QUALIFIED PURPOSES FOR WHICH INDIVIDUAL DEVELOPMENT ACCOUNTS MAY BE USED; TO AUTHORIZE THE CONTRIBUTION OF MATCHING FUNDS TO FIDUCIARY ORGANIZATIONS FOR INDIVIDUAL DEVELOPMENT ACCOUNTS; TO REQUIRE FIDUCIARY ORGANIZATIONS TO SUBMIT QUARTERLY REPORTS TO THE DEPARTMENT OF HUMAN SERVICES; TO CREATE A SPECIAL FUND IN THE STATE TREASURY TO CONSIST OF TRANSITIONAL EMPLOYMENT ASSISTANCE FUNDS, WHICH SHALL BE USED FOR THE PURPOSES OF THIS ACT; TO AMEND SECTION 27-7-15, MISSISSIPPI CODE OF 1972, TO EXEMPT FROM GROSS INCOME FOR STATE INCOME TAX PURPOSES INTEREST AND DIVIDENDS EARNED ON INDIVIDUAL DEVELOPMENT ACCOUNTS AND MATCHING FUNDS DEPOSITED INTO THOSE ACCOUNTS; AND FOR RELATED PURPOSES.
Sponsors
Who carried the bill in each chamber, and who signed on. Each name leads to the member's page.
In the House of Representatives
Sponsor
Its course
January 6 to February 1, 2011, on one scale. In the top row each mark is a day something happened; taller marks are busier days.
Each committee stop sits inside its chamber.
Every action2 actions on 2 days
In the House of RepresentativesJan 6 to Feb 1 · stopped26 days
Public Health and Human ServicesJan 6 to Feb 1 · stopped26 days
Text
Each version as the Legislature printed it.
l9n doesn't hold this bill's text yet.
What happened
In l9n's words, one line for each step. Every action as the Legislature published it is below.
In the House of Representatives Jan 6 – Feb 1
- Jan 6Referred to the House committees on Public Health and Human Services and on Ways and Means
- Feb 1Died in committee in the House
All 2 actions, as published
- Jan 6Referred To Public Health and Human Services;Ways and MeansHouse of Representatives
- Feb 1Died In CommitteeHouse of Representatives