A bill to amend the Internal Revenue Code of 1986 to exclude from gross income amounts withdrawn from Individual Retirement plans for payment of long-term care insurance premiums.

Summary

Amends the Internal Revenue Code to exclude from gross income any distribution from an individual retirement plan if: (1) the payee has attained age 59 1/2 on or before the date of the distribution; and (2) the distribution is used to pay premiums for an insurance policy covering at least 12 months of medically necessary care for the payee or a spouse meeting the same 59 1/2 year age requirement.

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Timeline

1. 29 October 1987

   Introduced

   Read twice and referred to the Committee on Finance.

   Source: IntroReferral

2. 29 October 1987

   Introduced

   Introduced in Senate

   Source: IntroReferral

Votes

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Versions

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Documents

1 official file

• Introduced in Senate

  summary · EN · 29 October 1987

  Open at official source

Sponsors

• Sen. Durenberger, Dave [R-MN] · R · Sponsor
• · ssfi00 · Standing

Related records

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