Secure Annuity Income for Life Act of 2003

Summary

Secure Annuity Income for Life Act of 2003 - Amends the Internal Revenue Code to exclude from gross income a percentage of lifetime annuity payments from a qualified trust to a qualified distributee. Provides for recapture and taxation of payments that are modified (other than by death or disability) so as to not qualify as lifetime annuity payments. Applies such exclusion to: (1) section 403(a) plans (employee annuities); (2) section 403(b) plans (public schools and certain tax exempt organizations); (3) section 408 plans (individual retirement accounts); and (4) section 457 plans (deferred compensation plans for State and local governments and tax-exempt organizations). Defines: (1) "lifetime annuity payment"; and (2) "qualified distributee."

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Timeline

1. 12 June 2003

   Introduced

   Referred to the House Committee on Ways and Means.

   Source: IntroReferral

2. 12 June 2003

   Introduced

   Introduced in House

   Source: IntroReferral

3. 12 June 2003

   Introduced

   Introduced in House

   Source: IntroReferral

4. 13 June 2003

   Introduced

   Sponsor introductory remarks on measure. (CR E1246-1247)

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

• Introduced in House · 12 June 2003 · Official file

Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 12 June 2003

  ViewDownloadOpen at official source

• Introduced in House (PDF)

  Introduced in House · EN · 12 June 2003

  ViewDownloadOpen at official source

• Introduced in House

  summary · EN · 12 June 2003

  Open at official source

Sponsors

• Rep. Pomeroy, Earl [D-ND-At Large] · D · Sponsor
• Sen. Isakson, Johnny [R-GA] · R · Sponsor
• Rep. English, Phil [R-PA-3] · R · Sponsor
• Rep. Andrews, Robert E. [D-NJ-1] · D · Sponsor
• Rep. Frost, Martin [D-TX-24] · D · Cosponsor
• Rep. Johnson, Nancy L. [R-CT-6] · R · Cosponsor
• Tom Cole · R · Cosponsor
• · hswm00 · Standing

Related records

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