S. 1741: Military Savings Act of 2013

113th Congress · introduced 2013-11-20 · Armed Forces and National Security · Latest: Read twice and referred to the Committee on Armed Services.

federal

Follow this bill, step by step

Where it came from: introduced 2013-11-20 · official record
Who proposed it: Sen. Markey, Edward J. [D-MA] · what a sponsor is
What happened next: no floor votes in our records yet. Why?
Where it stands now: Read twice and referred to the Committee on Armed Services. Not final yet: this can still change. We check for updates every day.
If it becomes law and spends money: follow the money to money laws, then agencies and contracts and grants.

What does this mean?

Official title

Military Savings Act of 2013

Plain summary

Military Savings Act of 2013 - Requires the Under Secretary of Defense (DOD) to carry out a five-year pilot program at at least 10 military installations to develop innovative consumer financial products that encourage savings and wealth-creation among members of the Armed Forces on active duty. Authorizes products designed to: (1) increase the rate of savings among such members by providing automatic deposit of special pay and allowances; (2) reduce the need for high-cost short-term lending services by providing alternatives, such as financial institutions providing an option for members to receive advances on salary payments; and (3) address obstacles to traditional consumer banking and lending for members with limited credit history. Requires a financial institution seeking to begin or renew operating on a military installation selected for such program to agree to offer such products and to notify members about the availability of such products. Directs the Under Secretary to contract for an annual independent evaluation of such program. Authorizes the Under Secretary to extend the program and expand it nationwide upon determining that such expansion would improve member savings rates or decrease their need to rely on payday lenders.

Congressional Research Service summary (Introduced in Senate), quoted unchanged (nonpartisan). Read the source.

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A “Yea” vote

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A “Nay” vote

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What does this mean? (plain words)

Official text

Military Savings Act of 2013

Source: Congressional Research Service summary (Introduced in Senate)

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How did my representative vote? · This bill's floor votes

Officials and money

Sponsor: Sen. Markey, Edward J. [D-MA] · 0 cosponsors

Cost estimate: No cost estimate published yet.

Sponsor's campaign money: Sen. Markey, Edward J. [D-MA] reported raising $6.0 million (2025–2026). Details. Shown for context only; it does not mean any donor supported this bill.

No linked floor roll calls in our collected records yet. This does not mean the bill has never had a vote. Check the official bill history.

Sources

Congressional Research Service summary (Introduced in Senate)
Congress.gov
Data: GovInfo BILLSTATUS bulk data (Library of Congress), BILLSTATUS-113s1741.xml <https://www.govinfo.gov/bulkdata/BILLSTATUS/113/s>

Record fed-us-cong113-s1741 · catalog fed-us-congress-bills-cong113 · updated 2026-11-15 by psicol fed-bills-cong113