H.R. 185 · Where this bill is now
In committee
Introduced in the House, sent to the Committee on Ways and Means, and in addition to the Committees on Agriculture, Armed Services, Veterans' Affairs, Oversight and Government Reform, Intelligence (Permanent Select), Foreign Affairs, Education and Workforce, Small Business, the Judiciary, Natural Resources, House Administration, Energy and Commerce, Homeland Security, Science, Space, and Technology, Appropriations, Rules, Ethics, Transportation and Infrastructure, the Budget, and Financial Services , 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, Jan 3, 2025
What this bill does
In plain words · AI-written from the official summaryMultiple changes to federal programs and requirements
This bill makes several adjustments to existing federal programs. It increases the maximum contributions allowed to certain retirement accounts, adds enhanced penalties for human trafficking and sexual abuse crimes in school zones, requires the Department of Commerce to report on foreign investment in semiconductor manufacturing, and requires the Federal Maritime Commission to evaluate the impact of foreign ownership of major U.S. port terminals. The bill also provides additional funding to several federal agencies, extends livestock market reporting requirements, allows credit unions to hold board meetings less frequently, and extends NASA's ability to lease its property through 2033.
How it affects you
These changes affect different groups in different ways. People saving for retirement may see new options for how much they can contribute to certain accounts. The enhanced penalties for crimes in school zones affect how those offenses are prosecuted. Federal employees and those who rely on services from the Departments of Health and Human Services, Agriculture, State, Defense, Homeland Security, and Energy may see impacts from the additional appropriations. Credit union members may notice changes in how often the board meets. Most other provisions have limited direct effect on everyday Americans.
Read the official summary (Introduced in House, Jan 3, 2025)
Responsible Legislating Act
This bill establishes or modifies various federal programs and requirements, including those related to retirement accounts, penalties for certain sex offenses, foreign investment and ownership, and appropriations.
The bill makes changes to retirement account contributions and distributions, including increasing the maximum amount that may be contributed to a Roth Individual Retirement Account (IRA) to include certain contributions to a Savings Incentive Match Plan for Employees (SIMPLE IRA) or Simplified Employee Pension (SEP) plan, subject to limitations.
The bill establishes an enhanced penalty—an additional prison term of up to five years—for certain interstate human trafficking offenses or coercion of sexual activity that occurs in a school zone or related area.
The Department of Commerce must report on efforts to increase foreign direct investment in semiconductor-related manufacturing and production. The Federal Maritime Commission must evaluate the effect of foreign ownership of marine terminals at the 15 largest U.S. container ports on U.S. economic security.
The bill provides additional appropriations for the Departments of Health and Human Services, Agriculture, State, Defense, Homeland Security, and Energy.
The bill extends mandatory livestock market reporting requirements through FY2025.
The bill revises the required frequency of meetings held by a credit union's board of directors by decreasing the frequency for existing credit unions with satisfactory soundness ratings.
The National Aeronautics and Space Administration's (NASA's) enhanced-use leasing authority is reauthorized through 2033.
The bill requires hearings on the bill's implementation within one year of the date of enactment.
Written by AI (Claude) using only the official summary by the Congressional Research Service, the Library of Congress’s nonpartisan research staff. It can miss nuance, so check the official summary and the bill text for details.
1st SessionH. R. 185
A BILL
Responsible Legislating Act
Sponsor: Rep. James P. McGovern (D-MA-2) · Introduced Jan 3, 2025 · Government Operations and Politics · 1 version of the text
Sources: Congress.gov actions and votes · bill text from GovInfo · latest official action Mar 14, 2025: “Referred to the Subcommittee on Livestock, Dairy, and Poultry.”
Sections
Sections · 1
Title II · 2
Title IV · 50
- Sec. 401Expanding automatic enrollment in retirement plansNo change
- Sec. 402Modification of credit for small employer pension plan startup costsNo change
- Sec. 403Promotion of saver’s creditNo change
- Sec. 404Enhancement of saver’s creditNo change
- Sec. 405Enhancement of 403(b) plansNo change
- Sec. 406Increase in age for required beginning date for mandatory distributionsNo change
- Sec. 407Indexing ira catch-up limitNo change
- Sec. 408Higher catch-up limit to apply at age 62, 63, and 64No change
- Sec. 409Pooled employer plans modificationNo change
- Sec. 410Multiple employer 403(b) plansNo change
- Sec. 411Treatment of student loan payments as elective deferrals for purposes of matching contributionsNo change
- Sec. 412Application of credit for small employer pension plan startup costs to employers which join an existing planNo change
- Sec. 413Military spouse retirement plan eligibility credit for small employersNo change
- Sec. 414Small immediate financial incentives for contributing to a planNo change
- Sec. 415Safe harbor for corrections of employee elective deferral failuresNo change
- Sec. 416Improving coverage for part-time workersNo change
- Sec. 417Deferral of tax for certain sales of employer stock to employee stock ownership plan sponsored by s corporationNo change
- Sec. 418Certain securities treated as publicly traded in case of employee stock ownership plansNo change
- Sec. 419Remove required minimum distribution barriers for life annuitiesNo change
- Sec. 420Qualifying longevity annuity contractsNo change
- Sec. 421Insurance-dedicated exchange-traded fundsNo change
- Sec. 422Recovery of retirement plan overpaymentsNo change
- Sec. 423Reduction in excise tax on certain accumulations in qualified retirement plansNo change
- Sec. 424Performance benchmarks for asset allocation fundsNo change
- Sec. 425Review and report to congress relating to reporting and disclosure requirementsNo change
- Sec. 426Eliminating unnecessary plan requirements related to unenrolled participantsNo change
- Sec. 427Retirement savings lost and foundNo change
- Sec. 428Updating dollar limit for mandatory distributionsNo change
- Sec. 429Expansion of employee plans compliance resolution systemNo change
- Sec. 430Eliminate the first day of the month requirement for governmental section 457(b) plansNo change
- Sec. 431One-time election for qualified charitable distribution to split-interest entity; increase in qualified charitable distribution limitationNo change
- Sec. 432Distributions to firefightersNo change
- Sec. 433Exclusion of certain disability-related first responder retirement paymentsNo change
- Sec. 434Individual retirement plan statute of limitations for excise tax on excess contributions and certain accumulationsNo change
- Sec. 435Requirement to provide paper statements in certain casesNo change
- Sec. 436Separate application of top heavy rules to defined contribution plans covering excludible employeesNo change
- Sec. 437Repayment of qualified birth or adoption distribution limited to 3 yearsNo change
- Sec. 438Employer may rely on employee certifying that deemed hardship distribution conditions are metNo change
- Sec. 439Penalty-free withdrawals from retirement plans for individuals in case of domestic abuseNo change
- Sec. 440Reform of family attribution rulesNo change
- Sec. 441Amendments to increase benefit accruals under plan for previous plan year allowed until employer tax return due dateNo change
- Sec. 442Retroactive first year elective deferrals for sole proprietorsNo change
- Sec. 443Limiting cessation of ira treatment to portion of account involved in a prohibited transactionNo change
- Sec. 444Review of pension risk transfer interpretive bulletinNo change
- Sec. 445Amendments relating to setting every community up for retirement enhancement act of 2019No change
- Sec. 446Provisions relating to plan amendmentsNo change
- Sec. 447Simple and sep roth irasNo change
- Sec. 448Hardship withdrawal rules for 403(b) plansNo change
- Sec. 449Elective deferrals generally limited to regular contribution limitNo change
- Sec. 450Optional treatment of employer matching contributions as roth contributionsNo change