H.R. 2458 · 108th Congress
Secure Annuity Income for Life Act of 2003
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Never voted on. It didn't reach a floor vote before the 108th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
D
PomeroySponsor6 cosponsors · 2 D, 4 R
3 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
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.
What it does: CRS summary · Introduced in House · Jun 12, 2003
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."
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Secure Annuity Income for Life Act of 2003
Latest action (Jun 13, 2003): Sponsor introductory remarks on measure. (CR E1246-1247)
Policy area: Taxation · Origin: House · Introduced: Jun 12, 2003
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.