A bill to amend the Internal Revenue Code of 1954 to extend the special elections for section 403(b) annuity contracts to employees of churches, conventions, or associations of churches, and their agencies to permit a de minimis contribution amount in lieu of such elections.

referredUnited States· United States Congress· EN

Introduced

10 October 1978

Last action

—

Status

Referred to House Committee on Ways and Means.

Summary

Amends the Internal Revenue Code to provide church employees the same power presently enjoyed by employees of tax-exempt health and education organizations to elect alternative exclusion allowances for contributions to annuity contracts. Provides a minimum allowance of $10,000 for annual additions to these contracts without respect to the amount of the employee's compensation.

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Documents

1 official file

Introduced in House
summary · EN · 10 October 1978
Open at official source

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Sources

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Official source: https://www.congress.gov/bill/95th-congress/house-bill/14272
Open data entity: https://api.congress.gov/v3/bill/95/hr/14272