H.R. 9286 · 117th Congress
To amend the Internal Revenue Code of 1986 to treat certain price protection payments as eligible rollover…
Full title
To amend the Internal Revenue Code of 1986 to treat certain price protection payments as eligible rollover distributions, and for other purposes.
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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
KindSponsor1 cosponsor · 1 R
1 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
This bill treats certain price protection payments from Employee Stock Ownership Plans (ESOPs) as eligible rollover distributions (i.e., tax-free distributions from a qualified retirement plan to another eligible plan).
What it does: CRS summary · Introduced in House · Nov 10, 2022
This bill treats certain price protection payments from Employee Stock Ownership Plans (ESOPs) as eligible rollover distributions (i.e., tax-free distributions from a qualified retirement plan to another eligible plan). Price protection payments are made under a price protection agreement and provide a guaranteed minimum price for shares that may temporarily decline in value as a result of loans to the ESOP to purchase shares.
The bill treats price protection payments made after December 12, 2019, for plan years ending before January 1, 2023, as eligible rollover distributions if payments were made pursuant to a price protection agreement for distributions due to separation from service, retirement, death or disability. For plan years beginning after 2022, payments made under a price protection agreement as a result of any separation of service of a plan participant (regardless of the reason for such separation) would be eligible for rollover.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: To amend the Internal Revenue Code of 1986 to treat certain price protection payments as eligible rollover distributions, and for other purposes.
Latest action (Nov 10, 2022): Referred to the House Committee on Ways and Means.
Policy area: Taxation · Origin: House · Introduced: Nov 10, 2022
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.