A bill to amend the Internal Revenue Code of 1986 to modify the exception from the 10 percent penalty for early withdrawals from governmental plans for Federal and State qualified public safety employees.
Latest action · Jul 27, 2011 Read twice and referred to the Committee on Finance.
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.
- IntroducedJul 27, 2011
- Passed SenateNot reached
- Passed HouseNot reached
- To the PresidentNot reached
- Became lawNot reached
Summary
Amends the Internal Revenue Code to: (1) modify the exemption from the 10% penalty for premature distributions from governmental employee benefit plans to qualified public safety employees to eliminate the restriction that such plans be defined benefit plans; (2) expand the definition of "qualified public safety employee" to include federal employees; and (3) exempt from tax penalties certain periodic payments made to qualified public safety employees before the enactment of the Pension Protection Act of 2006 (i.e., August 17, 2006).
Cosponsors
Members who signed on, in the order they did.
Actions 2
Everything that happened, newest first.
- Jul 27, 2011Introduced in Senate
- Jul 27, 2011Read twice and referred to the Committee on Finance.
Subjects
Assigned by the Library of Congress. Policy area: Taxation.
Text 1
Each version as it was printed, newest first.
- Jul 27, 2011Introduced in Senate
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.