To amend the Internal Revenue Code of 1986 to provide that no loan may be made from a qualified employer plan using revolving credit arrangements and to limit the number of loans that may be made from a qualified employer plan to a participant or beneficiary.

Summary

Amends the Internal Revenue Code to: (1) prohibit tax-exempt employer pension or benefit plans from making a loan to any plan beneficiary through a revolving credit arrangement; and (2) limit to three the number of loans a plan can make to a plan participant or beneficiary without tax consequences.

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Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 31 July 2008

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• Introduced in House (PDF)

  Introduced in House · EN · 31 July 2008

  ViewDownloadOpen at official source

• Introduced in House

  summary · EN · 31 July 2008

  Open at official source

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