legislation: 112-hr-3899
Data license: Public Domain (U.S. Government data) · Data source: Federal Register API & Regulations.gov API
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| 112-hr-3899 | 112 | hr | 3899 | To provide for rollover treatment to traditional IRAs of amounts received in airline carrier bankruptcy. | Labor and Employment | 2012-02-03 | 2012-02-03 | Referred to the House Committee on Ways and Means. | House | Rep. Lewis, John [D-GA-5] | GA | D | L000287 | 1 | 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. | 2019-11-15T21:46:53Z |