H.R. 126 · 110th Congress
To amend the Internal Revenue Code of 1986 to allow loans from individual retirement plans for qualified…
Full title
To amend the Internal Revenue Code of 1986 to allow loans from individual retirement plans for qualified small business capital assets.
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Never voted on. It didn't reach a floor vote before the 110th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
R
FortenberrySponsorNo cosponsors.
Amends the Internal Revenue Code to exempt from the penalty tax for prohibited transactions loans from an individual retirement plan to acquire certain small business capital assets. Requires such loans to be repaid within five years.
What it does: CRS summary · Introduced in House · Jan 4, 2007
Amends the Internal Revenue Code to exempt from the penalty tax for prohibited transactions loans from an individual retirement plan to acquire certain small business capital assets. Requires such loans to be repaid within five years.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: To amend the Internal Revenue Code of 1986 to allow loans from individual retirement plans for qualified small business capital assets.
Latest action (Jan 4, 2007): Referred to the House Committee on Ways and Means.
Policy area: Taxation · Origin: House · Introduced: Jan 4, 2007
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.