HOPE Act of 2025

[Congressional Bills 119th Congress] [From the U.S. Government Publishing Office] [H.R. 955 Introduced in House (IH)] <DOC> 119th CONGRESS 1st Session H. R. 955 To amend the Internal Revenue Code of 1986 to reform health provisions, and for other purposes. _______________________________________________________________________ IN THE HOUSE OF REPRESENTATIVES February 4, 2025 Mr. Moore of Utah (for himself, Mr. Panetta, Mr. Fitzpatrick, Mr. Schneider, Mr. Smith of Nebraska, Mr. Ruiz, Mr. Valadao, Mrs. Dingell, Mr. Moolenaar, and Mr. Davis of North Carolina) introduced the following bill; which was referred to the Committee on Ways and Means _______________________________________________________________________ A BILL To amend the Internal Revenue Code of 1986 to reform health provisions, and for other purposes. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, SECTION 1. SHORT TITLE. This Act may be cited as the ``Health Out-of-Pocket Expense Act of 2025'' or the ``HOPE Act of 2025''. SEC. 2. HOPE ACCOUNTS. (a) Accounts Established.-- (1) In general.--Part VIII of subchapter F of chapter 1 of the Internal Revenue Code of 1986 is amended by adding at the end the following new section: ``SEC. 530A. HOPE ACCOUNTS. ``(a) In General.--A HOPE Account shall be exempt from taxation under this subtitle. Notwithstanding the preceding sentence, the Hope Account shall be subject to the taxes imposed by section 511 (relating to the imposition of tax on unrelated business income of charitable organizations). ``(b) Definitions and Special Rules.--For purposes of this section-- ``(1) HOPE account.--The term `HOPE Account' means a trust created or organized in the United States as a HOPE Account exclusively for the purpose of paying the qualified medical expenses of the account beneficiary, but only if the written governing instrument creating the trust meets the following requirements: ``(A) Except in the case of a rollo