- Not enactedThe President has not signed this bill
- The senate has not voted
- The house has not voted
House Committee on Ways and MeansIntroducedJuly 30th, 2010
- house Committees
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IDA Protection Act of 2010
To increase by $25 million the funding available for individual development accounts for each of fiscal years 2011 and 2012, and to amend the Internal Revenue Code of 1986 to eliminate the domestic production deduction for coal and other hard mineral fossil fuels.
IDA Protection Act of 2010 - Directs the Secretary of Health and Human Services (HHS) to make grants to qualified entities for individual development accounts from funds authorized to be appropriated in FY2011 and FY2012. Provides that: (1) the rules applicable to such grants shall be similar to the rules of the Assets for Independence Act; and (2) funds for such grants shall be supplemental to other federal, state, and local funding for such accounts. Amends the Internal Revenue Code to deny a tax deduction for income attributable to the sale, exchange, or other disposition of coal, other hard mineral fossil fuels (including lignite and oil shale), or any primary product thereof.