A bill to amend the Internal Revenue Code of 1986 to provide that no loan may be made from a qualified employer plan using a credit card or other intermediary 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 the use of a credit card or other intermediary; and (2) limit to three the number of loans a plan can make to a plan participant or beneficiary without tax consequences.

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

Timeline

1. 17 July 2008

   Introduced

   Read twice and referred to the Committee on Finance.

   Source: IntroReferral

2. 17 July 2008

   Introduced

   Introduced in Senate

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

• Introduced in Senate · 17 July 2008 · Download file

Documents

3 official files

• Introduced in Senate (text)

  Introduced in Senate · EN · 17 July 2008

  ViewDownloadOpen at official source

• Introduced in Senate (PDF)

  Introduced in Senate · EN · 17 July 2008

  ViewDownloadOpen at official source

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• Introduced in Senate

  summary · EN · 17 July 2008

  Open at official source

  Leesvertaling

  Vertaal dit document naar jouw taal. PoliticalRepo bewaart geen aparte kopie per EU-taal.

  Vertaal naarNL · DutchDE · GermanFR · FrenchES · SpanishIT · ItalianPL · PolishPT · PortugueseSV · SwedishDA · DanishFI · FinnishEL · GreekCS · CzechHU · HungarianRO · RomanianBG · BulgarianHR · CroatianSK · SlovakSL · SlovenianLT · LithuanianLV · LatvianET · EstonianGA · IrishMT · Maltese

  Vertaal document

  Documentvertaling op verzoek met downloadbare PDF (logo + link naar de officiële bron). Het bronbestand blijft leidend.

Sponsors

• Sen. Schumer, Charles E. [D-NY] · D · Sponsor
• Sen. Kohl, Herb [D-WI] · D · Sponsor
• Sen. Smith, Gordon H. [R-OR] · R · Sponsor
• · ssfi00 · Standing

Related records

• related to → 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.