# 119-hr-10039: SMART Savings Act of 2026

119-hr-10039, SMART Savings Act of 2026, is a 119th Congress bill sponsored by Rep. Tenney, Claudia [R-NY-24] (R-NY); status introduced; PRIA reads it as touching household money (as of 2026-08-26).

- Canonical: https://policyrisk.com/legislation/119-hr-10039
- As of: 2026-08-26
- Plain-text twin of the page above; the HTML and this file carry the same facts.

## Facts
- Bill: 119-hr-10039
- Congress: 119
- Title: SMART Savings Act of 2026
- Status: introduced
- Introduced: 2026-08-03
- Sponsor: Rep. Tenney, Claudia [R-NY-24] (R-NY)
- Cosponsors: 0
- Policy area: Taxation
- Touches household money: yes
- Last recorded action: 2026-08-26

## Summary

**Redefines which accounts count as retirement "plans" for prohibited-transaction rules.** This bill would clarify that certain tax-exempt 401(a) trusts and 403(a) plans count as "plans," reorganize the prohibited-transaction exemptions, define "relationship benefits," and preserve anti-self-dealing rules that can cause an IRA to cease. - Savers and IRA owners: Would broaden which individual-account arrangements fall under the exemptions, potentially enabling different fee or benefit structures. Self-dealing still triggers IRA cessation for the taxable year except for narrowly defined "relationship benefits." - Employers and plan sponsors: Trusts tied to 401(a) plans and 403(a) plans that are tax-exempt would be explicitly treated as "plans" for prohibited-transaction rules. The bill treats separate employer-maintained accounts as separate IRAs. - Financial firms and advisers: The proposal would recast the exemption framework for disallowed transactions and spell out "relationship benefits" such as reduced-cost or enhanced services tied to account value or fees.

## Provisions PRIA read

- New IRA self-dealing and benefits: mixed, high. If enacted, the bill would tighten IRA self-dealing rules. If an IRA owner or beneficiary uses plan income or assets for their own account, the IRA would stop being an IRA as of the first day of that taxable year. That could make the account treated as a taxable distribution and cause tax and penal…
- More employer trusts treated as plans: mixed, low. If enacted, the bill would change which employer trusts and plans count as a "plan" for prohibited-transaction rules. A trust described in 401(a) that is tax-exempt under 501(a), and a 403(a) plan that is tax-exempt, would be treated as a "plan" for those rules. That would bring some employer or as…

## Related bills

- 119-hr-9237: Take Care of America’s Veterans Act
- 119-hr-3816: Weather Act Reauthorization Act of 2025
- 119-hr-5089: Weather Act Reauthorization Act of 2025
- 119-hr-137: TCJA Permanency Act
- 119-hr-2725: Affordable Housing Credit Improvement Act of 2025
- 119-hr-2570: Maximum Pressure Act

## Sources
- [119-hr-10039 on Congress.gov](https://www.congress.gov/bill/119th-congress/house-bill/10039)

## Related
- [119-hr-9237: Take Care of America’s Veterans Act](https://policyrisk.com/legislation/119-hr-9237)
- [119-hr-3816: Weather Act Reauthorization Act of 2025](https://policyrisk.com/legislation/119-hr-3816)
- [119-hr-5089: Weather Act Reauthorization Act of 2025](https://policyrisk.com/legislation/119-hr-5089)
- [119-hr-137: TCJA Permanency Act](https://policyrisk.com/legislation/119-hr-137)
- [119-hr-2725: Affordable Housing Credit Improvement Act of 2025](https://policyrisk.com/legislation/119-hr-2725)
- [119-hr-2570: Maximum Pressure Act](https://policyrisk.com/legislation/119-hr-2570)
- [All bills in Congress](https://policyrisk.com/legislation)

Source: PRIA, https://policyrisk.com/legislation/119-hr-10039 (as of 2026-08-26).