S. 1646 · 114th Congress
Technical Clarification to Public Law 113-243 Act of 2015
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Never voted on. It didn't reach a floor vote before the 114th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
R
InhofeSponsor1 cosponsor · 1 D
1 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
This bill amends the FAA Modernization and Reform Act of 2012 with respect to rollovers to a traditional individual retirement account (IRA) of payments to qualified airline employees in commercial airline carrier bankruptcy cases.
What it does: CRS summary · Introduced in Senate · Jun 23, 2015
Technical Clarification to Public Law 113-243 Act of 2015
This bill amends the FAA Modernization and Reform Act of 2012 with respect to rollovers to a traditional individual retirement account (IRA) of payments to qualified airline employees in commercial airline carrier bankruptcy cases.
A commercial airline employee shall be qualified for such a rollover if he or she had participated in a commercial airline's tax-exempt defined benefit pension plan that was terminated or otherwise restricted.
The bill prescribes a special rule for airline payments received by a qualified employee from an airline carrier resulting from a bankruptcy case filed after September 11, 2001, and before January 1, 2007, or on November 29, 2011.
Under this special rule, the period for a qualified airline employee to make a tax-exempt rollover of such a payment into a traditional IRA shall be extended to the period beginning on December 18, 2014, and ending 180 days after the enactment of this Act.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Technical Clarification to Public Law 113-243 Act of 2015
Latest action (Jun 23, 2015): Read twice and referred to the Committee on Finance.
Policy area: Taxation · Origin: Senate · Introduced: Jun 23, 2015
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.