Secure Annuity Income for Life Act of 2003
Latest action · Jun 13, 2003 Sponsor introductory remarks on measure. (CR E1246-1247)
Progress
Where this bill reached, and when. A stage with no date was not reached; one that failed a vote and later carried shows the date it carried.
- IntroducedJun 12, 2003
- Passed HouseNot reached
- Passed SenateNot reached
- To the PresidentNot reached
- Became lawNot reached
Summary
Secure Annuity Income for Life Act of 2003 - Amends the Internal Revenue Code to exclude from gross income a percentage of lifetime annuity payments from a qualified trust to a qualified distributee. Provides for recapture and taxation of payments that are modified (other than by death or disability) so as to not qualify as lifetime annuity payments.
Applies such exclusion to: (1) section 403(a) plans (employee annuities); (2) section 403(b) plans (public schools and certain tax exempt organizations); (3) section 408 plans (individual retirement accounts); and (4) section 457 plans (deferred compensation plans for State and local governments and tax-exempt organizations).
Defines: (1) "lifetime annuity payment"; and (2) "qualified distributee."
Cosponsors 6
Members who signed on, in the order they did. Signatures ran from Jun 12, 2003 to Jul 17, 2003, with 3 there on the day it was introduced.
| Seat | Cosponsor | Signed on | |
|---|---|---|---|
| R-GA | Johnny Isakson | Original | Jun 12, 2003 |
| R-PA | Phil English | Original | Jun 12, 2003 |
| D-NJ | Robert E. Andrews | Original | Jun 12, 2003 |
| D-TX | Martin Frost | Jun 17, 2003 | |
| R-CT | Nancy L. Johnson | Jun 19, 2003 | |
| R-OK | Tom Cole | Jul 17, 2003 |
Actions 3
Everything that happened, newest first.
- Jun 13, 2003Sponsor introductory remarks on measure. (CR E1246-1247)
- Jun 12, 2003Introduced in House
- Jun 12, 2003Referred to the House Committee on Ways and Means.
Subjects
Assigned by the Library of Congress. Policy area: Taxation.
Everything here is as published by Congress: the summary is the Congressional Research Service's, the action wording is the clerks', and the subjects are the Library of Congress's. How far it got is read from the actions themselves, taking the most recent one of each kind, so a bill that failed a vote and later passed is shown as having passed. Records come from this bill on Congress.gov and govinfo.gov.