H.R. 2796 · 117th Congress
Family Attribution Modernization Act
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Never voted on. It didn't reach a floor vote before the 117th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
D
PanettaSponsor1 cosponsor · 1 R
1 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
This bill modifies testing rules for tax-exempt pension and profit sharing plans (e.g., 401k retirement plans) to eliminate attribution under the the family attribution rules (1) for spouses with separate businesses who reside in community property states, and (2) between parents with separate businesses who have minor children.
What it does: CRS summary · Introduced in House · Apr 22, 2021
Family Attribution Modernization Act
This bill modifies testing rules for tax-exempt pension and profit sharing plans (e.g., 401k retirement plans) to eliminate attribution under the the family attribution rules (1) for spouses with separate businesses who reside in community property states, and (2) between parents with separate businesses who have minor children. The family attribution rule treats an individual taxpayer as owning property interests (e.g., stock) that are owned, directly or indirectly, by the individual's spouse, children, grandchildren, and parents.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Family Attribution Modernization Act
Latest action (Apr 22, 2021): Referred to the House Committee on Ways and Means.
Policy area: Taxation · Origin: House · Introduced: Apr 22, 2021
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.