A bill to amend the Internal Revenue Code of 1986 to exclude certain severance payment amounts from income.

Fact Sheet API

Bill Number

S 1332

Introduced

Aug 2, 2001

Latest Action

Read twice and referred to the Committee on Finance.

Sponsor

Cosponsors

Topics

Income tax Labor and Employment Layoffs Personal income tax Severance pay Tax exclusion Taxation

Full Text

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Votes

Summary

Amends the Internal Revenue Code to exclude from gross income up to $5,000 of any "qualified severance payment." Defines such payment. Excludes from such definition payments exceeding $125,000.

Actions

Aug 2, 2001

Read twice and referred to the Committee on Finance.
Aug 2, 2001

Sponsor introductory remarks on measure. (CR 8/3/2001 S8751-8752)
Aug 2, 2001

Introduced in Senate

Amendments

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