S. 324 · 114th Congress
SEAL Act
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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
EnziSponsor1 cosponsor · 1 D
1 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
Shrinking Emergency Account Losses Act of 2015 or the SEAL Act
What it does: CRS summary · Introduced in Senate · Jan 30, 2015
Shrinking Emergency Account Losses Act of 2015 or the SEAL Act
Amends the Internal Revenue Code, with respect to loans made from a qualified employer pension plan, to: (1) extend the period for repayment of loans if a plan terminates or a plan participant becomes unemployed, and (2) prohibit plans from allowing the use of credit cards or similar arrangements to access loan amounts.
Requires the Secretary of the Treasury to modify regulations governing hardship distributions from qualified employer pension plans to allow participants to make additional contributions to a plan during the six month period following a hardship distribution.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: SEAL Act
Also known as: Shrinking Emergency Account Losses Act of 2015
Latest action (Jan 30, 2015): Read twice and referred to the Committee on Finance.
Policy area: Taxation · Origin: Senate · Introduced: Jan 30, 2015
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.