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H.R. 3899 · 112th Congress

To provide for rollover treatment to traditional IRAs of amounts received in airline carrier bankruptcy.

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Never voted on. It didn't reach a floor vote before the 112th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.

JLD LewisSponsor
1 cosponsor · 1 R
GDR Davis

1 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.

Allows a current or former employee of a commercial passenger airline who receives a payment of any money or other property payable by an airline pursuant to a court order filed in a bankruptcy case after September 11, 2001, and before January 1, 2007 (airline payment amount), to: (1) make a tax-free rollover of such amount to a traditional individual…

What it does: CRS summary · Introduced in House · Feb 3, 2012
Allows a current or former employee of a commercial passenger airline who receives a payment of any money or other property payable by an airline pursuant to a court order filed in a bankruptcy case after September 11, 2001, and before January 1, 2007 (airline payment amount), to: (1) make a tax-free rollover of such amount to a traditional individual retirement account (IRA) within 180 days of receipt (or within 180 days of the enactment of this Act, if later); and (2) transfer, without tax penalty, an airline payment amount contributed to a Roth IRA to a traditional IRA if such transfer is made within 180 days after the enactment of this Act. Excludes from the gross income of an airline employee amounts transferred to a traditional IRA under this Act. Imposes a limit on the aggregate amount transferrable to a traditional IRA.

Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov

About this bill and sources

Official title: To provide for rollover treatment to traditional IRAs of amounts received in airline carrier bankruptcy.

Latest action (Feb 3, 2012): Referred to the House Committee on Ways and Means.

Policy area: Labor and Employment · Origin: House · Introduced: Feb 3, 2012

Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)

No recorded floor vote found.