A bill to amend the Internal Revenue Code of 1986 to permit the tax-free rollover of certain payments made by employers to separated employees.

Summary

Amends the Internal Revenue Code to exclude from gross income qualified separation payments transferred to individual retirement accounts. Describes such payments as qualified if: (1) such payments were voluntarily paid by the employer on account of separation before attainment of normal retirement age; and (2) such separation was in connection with a substantial reduction in the employer's work force.

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

Timeline

1. 6 March 1995

   Introduced

   Sponsor introductory remarks on measure. (CR S3522)

   Source: IntroReferral

2. 6 March 1995

   Introduced

   Read twice and referred to the Committee on Finance.

   Source: IntroReferral

3. 6 March 1995

   Introduced

   Introduced in Senate

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

• Introduced in Senate · 6 March 1995 · Official file

Documents

3 official files

• Introduced in Senate (text)

  Introduced in Senate · EN · 6 March 1995

  ViewDownloadOpen at official source

• Introduced in Senate (PDF)

  Introduced in Senate · EN · 6 March 1995

  ViewDownloadOpen at official source

• Introduced in Senate

  summary · EN · 6 March 1995

  Open at official source

Sponsors

• Rep. Breaux, John B. [D-LA-7] · D · Sponsor
• Sen. Johnston, J. Bennett [D-LA] · D · Sponsor
• · ssfi00 · Standing

Related records

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