U.S. Congress legislation · 119th Congress
HB10490: Born to Invest Act of 2026
Status: In committee, September 17, 2026
To amend the Internal Revenue Code of 1986 to direct the Secretary of the Treasury to develop model guidance for States to assist with the establishment of certain tax-favored accounts for children.
What the bill says
To amend the Internal Revenue Code of 1986 to direct the Secretary of the Treasury to develop model guidance for States to assist with the establishment of certain tax-favored accounts for children.
From the introduced text, September 17, 2026:
A BILL To amend the Internal Revenue Code of 1986 to direct the Secretary of the Treasury to develop model guidance for States to assist with the establishment of certain tax-favored accounts for children. SECTION 1. Short title This Act may be cited as the Born to Invest Act of 2026 . SECTION 2. Model guidance to assist with establishment of certain tax-favored accounts for children The Secretary of the Treasury, in consultation with the Secretary of Health and Human Services, shall develop and disseminate model guidance to assist-- (1) State Treasurers in sharing information with parents and legal guardians on the establishment of Trump accounts (as defined in section 530A of the Internal Revenue Code of 1986), qualified ABLE programs (as defined in section 529A of such Code), and qualified tuition programs (as defined in section 529 of such Code), and (2) State Treasurers and State health departments in coordinating the sharing of information regarding live births to assist State Treasurers in carrying out the sharing of information described in paragraph (1).
Sponsors
- Sharice Davids (D, HD-003) · primary sponsor
- Derek Schmidt (R, HD-002)
Latest actions
- : Referred to the House Committee on Ways and Means.
- : Introduced in House
Subjects: Taxation
Common questions
- What is HB10490?
- HB10490 is a bill in Congress (119th Congress): Born to Invest Act of 2026.
- What does HB10490 do?
- In its own words: To amend the Internal Revenue Code of 1986 to direct the Secretary of the Treasury to develop model guidance for States to assist with the establishment of certain tax-favored accounts for children.
- What is the status of HB10490?
- In committee as of September 17, 2026. Latest action: Referred to the House Committee on Ways and Means. (September 17, 2026).
- Who sponsored HB10490?
- Sharice Davids (D, HD-003), with 1 co-sponsor.
- Where is the official record for HB10490?
- On the Congress website: https://www.congress.gov/bill/119th-congress/house-bill/10490
Source: official Congress record. Tracked by Delilah, AI for legislation across all 50 states and Congress.