H.R. 5602 · 111th Congress
Gulf Coast Access to Savings Act of 2010
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Never voted on. It didn't reach a floor vote before the 111th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
R
PutnamSponsor2 cosponsors · 2 R
1 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
Gulf Coast Access to Savings Act of 2010 - Amends the Internal Revenue Code to allow tax-free distributions, up to $50,000 in any taxable year, from retirement plans on or after April 20, 2010, and before January 1, 2011, for individuals whose principal place of abode is in Florida, Alabama, Mississippi, Louisiana, or Texas and who sustained an economic…
What it does: CRS summary · Introduced in House · Jun 24, 2010
Gulf Coast Access to Savings Act of 2010 - Amends the Internal Revenue Code to allow tax-free distributions, up to $50,000 in any taxable year, from retirement plans on or after April 20, 2010, and before January 1, 2011, for individuals whose principal place of abode is in Florida, Alabama, Mississippi, Louisiana, or Texas and who sustained an economic loss caused by the explosion on and sinking of the Deepwater Horizon offshore drilling unit, the resulting discharge of oil in the Gulf of Mexico, or the effects of such discharge on the economy in the affected areas. Provides tax incentives for the use of distributions by individuals in affected states to make home purchases. Increases to $100,000 the amount which may be borrowed without penalty from an employer benefit plan by individuals in affected states.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Gulf Coast Access to Savings Act of 2010
Latest action (Jun 24, 2010): Referred to the House Committee on Ways and Means.
Policy area: Taxation · Origin: House · Introduced: Jun 24, 2010
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.