US Congress Senate Bill 1646 (Prior Session Legislation)

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Spectrum: Bipartisan Bill
Status: Introduced on June 23 2015 - 25% progression, died in committee
Action: 2015-06-23 - Read twice and referred to the Committee on Finance.
Pending: Senate Finance Committee
Text: Latest bill text (Introduced) [PDF]

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.

Technical Clarification to Public Law 113-243 Act of 2015

Sen. James Inhofe [R-OK]

Sen. Sherrod Brown [D-OH]

Date	Chamber	Action
2015-06-23	Senate	Read twice and referred to the Committee on Finance.

HB2865 (Same As) 2015-06-23 - Referred to the House Committee on Ways and Means.
HB2029 (Related) 2015-12-18 - Became Public Law No: 114-113. (TXT | PDF)

Type	Source
Summary	https://www.congress.gov/bill/114th-congress/senate-bill/1646/all-info
Text	https://www.congress.gov/114/bills/s1646/BILLS-114s1646is.pdf