To amend the Internal Revenue Code of 1986 to provide that, where there is a distress termination of a pension plan, the tax on the failure to meet minimum funding standards shall be waived in certain cases.

Summary

Amends the Internal Revenue Code to provide that, where there is a distress termination of a pension plan, the tax on the failure to meet minimum funding standards shall be waived if there is a revocation of one or more business hardship waivers. Requires an increase in the unfunded benefit liabilities of the plan by the amount of the tax which would have been imposed as an initial tax.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

1. 12 March 1991

   Introduced

   Referred to the House Committee on Ways and Means.

   Source: IntroReferral

2. 12 March 1991

   Introduced

   Introduced in House

   Source: IntroReferral

3. 12 March 1991

   Introduced

   Introduced in House

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

• Introduced in House · undated · Official file

Documents

2 official files

• Introduced in House (text)

  Introduced in House · EN

  ViewDownloadOpen at official source

• Introduced in House

  summary · EN · 12 March 1991

  Open at official source

Sponsors

• Rep. Boehlert, Sherwood [R-NY-25] · R · Sponsor
• · hswm00 · Standing

Related records

• related to ← A bill to amend the Internal Revenue Code of 1986 to provide that, where there is a distress termination of a pension plan, the tax on the failure to meet minimum funding standards shall be waived in certain cases.