American Savings Promotion Act
Public Law 113-251 · H.R. 3374 · 113th Congress · began in the House
Signed by Barack Obama (D) on Dec 18, 2014 · Finance and Financial Sector
Sponsor: Rep. Derek Kilmer (D-WA-6)
Cosponsors (31): Rep. Tom Cotton, Rep. Niki Tsongas,
Passage votes
- HouseVoice vote
- SenateUnanimous consent
Data notes
The final version of the law, as each chamber passed it. A chamber that passed it by voice vote or unanimous consent has no count. “Method not stated” means the record does not say how the chamber voted. Where the record has a member-by-member vote, the “Who voted for it” section shows who voted yea.
Summary
The Congressional Research Service’s plain-language summary of what the law does.
American Savings Promotion Act - Amends the Revised Statutes of the United States, the Federal Reserve Act, the Federal Deposit Insurance Act, and the Home Owners' Loan Act to authorize covered financial institutions to conduct a contest, known as a "savings promotion raffle," in which the sole consideration required for a chance of winning designated prizes is obtained by the deposit of a specified amount of money in a savings account or program, where each ticket or entry has an equal chance of being drawn. Subjects such drawing contest to regulations promulgated by the appropriate prudential regulator.
Excludes such "savings promotion raffle" from the prohibition against a covered financial institution's dealing in "lottery" tickets.
Amends the federal criminal code to exempt: (1) savings promotion raffles conducted by an insured depository institution or an insured credit union from specified prohibitions against interstate and foreign travel or transportation in aid of racketeering enterprises, and (2) any savings promoton raffle from the prohibition against illegal gambling businesses.
Committees
The committees the bill was sent to, and what each did with it.
Financial Services Committee · House · referred toSubcommittee: Consumer Protection and Financial Institutions Subcommittee- Judiciary Committee · House · referred toSubcommittee: Crime and Federal Government Surveillance Subcommittee
Data notes
A committee links to its page only where it exists in the current Congress; older and renamed committees are named without a link.
Related bills
1 bill the Library of Congress relates to this one.
S. 1597Identical bill
American Savings Promotion Act
Data notes
Related bills are identified by the Congressional Research Service, the House and the Senate: companion and identical bills, bills with similar text, bills that were folded into this law, and rules that brought it to the floor. A bill that is itself a public law in this site’s data links here; the others link to Congress.gov.
Timeline
From introduction to signing, newest first: the committees, the floor and the president. 17 actions.
- Dec 18, 2014Became lawBecame law · Became Public Law No: 113-251.
- Became lawBecame law · Signed by President.
- Dec 12, 2014FloorFloor · Presented to President.
- Dec 11, 2014FloorFloor · Message on Senate action sent to the House.
- Dec 10, 2014FloorFloor · Passed Senate without amendment by Unanimous Consent.
- CommitteeCommittee · Senate Committee on Banking, Housing, and Urban Affairs discharged by Unanimous Consent.
- Sep 16, 2014CommitteeCommittee · Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
- Sep 15, 2014FloorFloor · Motion to reconsider laid on the table Agreed to without objection.
- FloorFloor · On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote.
- FloorFloor · DEBATE - The House proceeded with forty minutes of debate on H.R. 3374.
- FloorFloor · Considered under suspension of the rules.
- FloorFloor · Mr. Fitzpatrick moved to suspend the rules and pass the bill, as amended.
- Jul 15, 2014CommitteeCommittee · Hearings Held by the Subcommittee on Financial Institutions and Consumer Credit Prior to Referral.
- CommitteeCommittee · Hearings by Consumer Protection and Financial Institutions Subcommittee of the House Financial Services Committee
- Jan 9, 2014CommitteeCommittee · Referred to the Subcommittee on Crime, Terrorism, Homeland Security, and Investigations.
- Oct 29, 2013CommitteeCommittee · Referred to the Committee on Financial Services, and in addition to the Committee on the Judiciary, 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.
- IntroducedIntroduced · Introduced in House
Data notes
Every action the Library of Congress lists for the bill, from introduction to signing, plus the dated committee hearings. The source lists many steps twice (the chamber’s own entry and the Library of Congress copy, or a presidential and a became-law entry with the same words); those are shown once. Amendments are listed in their own section.
Amendments
No amendments to this bill are on record.
Data notes
Amendments offered to this bill in either chamber, as the Library of Congress records them: each with a status read from its last recorded step: agreed to, rejected, withdrawn, ruled out of order, fell with another amendment, or offered with no vote recorded (most Senate amendments are only ever offered). The wording of each amendment is the source’s. Amendments to amendments and amendments to other bills are not listed.
Official record
The bill’s full text is on Congress.gov. Data through Oct 7, 2026.