1. Young savers accounts (a) Establishment of accounts (1) In general Section 408A of the Internal Revenue Code of 1986 (relating to Roth IRAs) is amended by adding at the end the following new subsection: (g) Young savers account (1) In general Except as provided in this subsection, a young savers account shall be treated in the same manner as a Roth IRA. (2) Young savers account For purposes of this subsection, the term young savers account means, with respect to any taxable year, a Roth IRA which is established and maintained on behalf of an individual who has not attained age 26 before the close of the taxable year. (3) Contribution limits (A) Limit on accounts with respect to individual In the case of any contributions for any taxable year to one or more young savers accounts established and maintained on behalf of an individual, the amount determined with respect to such individual under subsection (c)(2)(A) shall be treated as the amount in effect for the taxable year under section 219(b)(5) (determined without regard to subparagraph (B) thereof). (B) Limit on contributors The aggregate amount of qualified young saver contributions an individual may make for any taxable year to all young savers accounts shall not exceed the deductible amount in effect for the taxable year under section 219(b)(5) (determined without regard to subparagraph (B) thereof). (C) Special rule for recontribution of amount distributed for higher education expenses In the case of a young savers account from which an individual receives a distribution to which section 72(t)(2)(E) applies (or would have applied had such distribution been includible in gross income), subparagraphs (A) and (B) shall not apply to any contribution made by such individual to a Roth IRA of such individual (and there shall not be taken into account under subsection (c)(2) any such contribution) to the extent such contribution does not exceed the excess (if any) of— (i) the aggregate amount of such distributions made during the 20-year period ending on the