,,ii ,calendar ,no4 #edd #aaith ,,congress #b;d ,session ,s4 #cccc ,,in ,,the ,,senate ,,of ,,the ,,united ,,states ,december #c1 #bjbe,mr4 ,young 7for himself1 ,mr4 ,booker1 ,mr4 ,cassidy1 and ,mr4 ,kaine7 introduced the following bill2 which was read twice and referred to the ,committee on ,health1 ,education1 ,labor1 and ,pensions ,august #e1 #bjbf,reported by ,mr4 ,cassidy1 with an amendment,strike out all after the enacting clause and insert the part printed in italic ,a ,,bill ,to modify the eligibility requirements and account contribution maximum for pension-linked emergency savings accounts1 and for other purposes4 #a4 ,short title ,this ,act may be cited as the ,emergency ,savings ,enhancement ,act of #bjbe4 #b4 ,amendments to the ,employee ,retirement ,income ,security ,act of #aigd ,section #hja of the ,employee ,retirement ,income ,security ,act of #aigd 7#bi ,u4,s4,c4 #aaic7 is amended-- 7#a7 by striking subsection 7b7 and inserting the following3 7b7 ,eligible participant ,for purposes of this part1 the term eligible participant1 with regard to an individual account plan1 means an individual who meets any age1 service1 and other eligibility requirements of the plan4 2 and 7#b7 in subsection 7d7-- 7,a7 in paragraph 7#a77;,a77i71 by striking #b1ejj and inserting #e1jjj2 and 7,b7 in paragraph 7#c77;,a7-- 7i7 in clause 7vii71 by adding and at the end2 7ii7 in clause 7viii71 by striking 2 and and inserting a period2 and 7iii7 by striking clause 7ix74 #c4 ,amendments to the ,internal ,revenue ,code of #aihf 7a7 ,eligible participant ,paragraph 7#b7 of section #djb;,a7e7 of the ,internal ,revenue ,code of #aihf is amended to read as follows3 7#b7 ,eligible participant ,for purposes of this subsection1 the term eligible participant1 with regard to a defined contribution plan1 means an individual1 without regard to whether the individual is otherwise a participant in such plan1 who meets any age1 service1 and other eligibility requirements of the plan4 4 7b7 ,contribution limitation ,clause 7i7 of section #djb;,a7e77#c77;,a7 of the ,internal ,revenue ,code of #aihf is amended by striking #b1ejj and inserting #e1jjj4 7c7 ,conforming amendment ,subparagraph 7,a7 of section #djb;,a7e77#e7 of the ,internal ,revenue ,code of #aihf is amended by adding and at the end of clause 7vii71 by striking 2 and at the end of clause 7viii7 and inserting a period1 and by striking clause 7ix74 #d4 ,effective date ,the amendments made by sections #b and #c shall apply to taxable years beginning after ,december #ca1 #bjbf4 #a4 ,short title ,this ,act may be cited as the ,emergency ,savings ,enhancement ,act of #bjbe4 #b4 ,amendments to the ,employee ,retirement ,income ,security ,act of #aigd ,section #hja of the ,employee ,retirement ,income ,security ,act of #aigd 7#bi ,u4,s4,c4 #aaic7 is amended-- 7#a7 by striking subsection 7b7 and inserting the following3 7b7 ,eligible participant ,for purposes of this part1 the term eligible participant1 with regard to an individual account plan1 means an individual who meets any age1 service1 and other eligibility requirements of the plan4 2 and 7#b7 in subsection 7d7-- 7,a7 in paragraph 7#a77;,a77i71 by striking #b1ejj and inserting #e1jjj2 and 7,b7 in paragraph 7#c77;,a7-- 7i7 in clause 7vii71 by adding and at the end2 7ii7 in clause 7viii71 by striking 2 and and inserting a period2 and 7iii7 by striking clause 7ix74 #c4 ,amendments to the ,internal ,revenue ,code of #aihf 7a7 ,eligible participant ,paragraph 7#b7 of section #djb;,a7e7 of the ,internal ,revenue ,code of #aihf is amended to read as follows3 7#b7 ,eligible participant ,for purposes of this subsection1 the term eligible participant1 with regard to a defined contribution plan1 means an individual1 without regard to whether the individual is otherwise a participant in such plan1 who meets any age1 service1 and other eligibility requirements of the plan4 4 7b7 ,contribution limitation ,clause 7i7 of section #djb;,a7e77#c77;,a7 of the ,internal ,revenue ,code of #aihf is amended by striking #b1ejj and inserting #e1jjj4 7c7 ,conforming amendment ,subparagraph 7,a7 of section #djb;,a7e77#e7 of the ,internal ,revenue ,code of #aihf is amended by adding and at the end of clause 7vii71 by striking 2 and at the end of clause 7viii7 and inserting a period1 and by striking clause 7ix74 #d4 ,effective date ,the amendments made by sections #b and #c shall apply to taxable years beginning after ,december #ca1 #bjbf4 #e4 ,appropriations for the ,employee ,ownership ,initiative grant program ,section #cdf of the ,,secure #b4j ,act of #bjbb 7#bi ,u4,s4,c4 #cbbh7 is amended-- 7#a7 in subsection 7d77#f71 by adding at the end the following3 7,f7 ,for fiscal years #bjcj through #bjce1 the amount described in this paragraph for the previous fiscal year adjusted by the percent increase in the consumer price index for all urban consumers for the most recent #ab-month period for which applicable data is available4 2 and 7#b7 by striking subsection 7g7 and inserting the following3 7g7 ,funding 7#a7 ,in general ,except as provided in paragraph 7#d71 the ,secretary may make grants under subsection 7d7 in a fiscal year using amounts appropriated under paragraphs 7#b7 and 7#c7 for that fiscal year4 7#b7 ,discretionary funds ,in addition to amounts appropriated under paragraph 7#c71 there is authorized to be appropriated1 for use as described in paragraph 7#a71 not more than the following3 7,a7 ,for fiscal year #bjbe1 #d1jjj1jjj4 7,b7 ,for fiscal year #bjbf1 #g1jjj1jjj4 7,c7 ,for fiscal year #bjbg1 #aj1jjj1jjj4 7,d7 ,for fiscal year #bjbh1 #ac1jjj1jjj4 7,e7 ,for fiscal year #bjbi1 #af1jjj1jjj 7,f7 ,for fiscal year #bjcc1 #bj1jjj1jjj4 7,g7 ,for fiscal year #bjcd1 #ba1jjj1jjj4 7,h7 ,for fiscal year #bjce1 #bb1jjj1jjj4 7#c7 ,mandatory funds ,there is appropriated1 out of any money in the ,treasury not otherwise appropriated1 for use as described in paragraph 7#a7 the following3 7,a7 ,for fiscal year #bjbg1 #h1jjj1jjj4 7,b7 ,for fiscal year #bjbh1 #aj1jjj1jjj4 7,c7 ,for fiscal year #bjbi1 #ab1jjj1jjj4 7,d7 ,for fiscal year #bjcj1 #ad1jjj1jjj4 7,e7 ,for fiscal year #bjca1 #af1jjj1jjj4 7,f7 ,for fiscal year #bjcb1 #ah1jjj1jjj4 7#d7 ,program administration 7,a7 ,in general ,of the amounts appropriated under paragraphs 7#b7 and 7#c7 for a fiscal year1 the ,secretary may reserve not more than #e percent of such amounts for the administrative expenses related to the ,initiative1 including administration of the grant program under subsection 7d74 7,b7 ,use of funds ,amounts reserve under subparagraph 7,a7 may be used for-- 7i7 planning1 oversight1 and management of such grant program2 7ii7 monitoring of activities carried out under this section2 7iii7 personnel1 training1 and other administrative costs directly related to carrying out this section2 and 7iv7 such other administrative activities as the ,secretary determines appropriate to carry out the purposes of this section4 4 ,august #e1 #bjbf,reported with an amendment