US SB324 | 2015-2016 | 114th Congress
Status
Spectrum: Bipartisan Bill
Status: Introduced on January 30 2015 - 25% progression, died in committee
Action: 2015-01-30 - Read twice and referred to the Committee on Finance.
Pending: Senate Finance Committee
Text: Latest bill text (Introduced) [PDF]
Status: Introduced on January 30 2015 - 25% progression, died in committee
Action: 2015-01-30 - Read twice and referred to the Committee on Finance.
Pending: Senate Finance Committee
Text: Latest bill text (Introduced) [PDF]
Summary
SEAL Act Shrinking Emergency Account Losses Act of 2015 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.
Title
SEAL Act Shrinking Emergency Account Losses Act of 2015
Sponsors
| Sen. Michael Enzi [R-WY] | Sen. Bill Nelson [D-FL] |
History
| Date | Chamber | Action |
|---|---|---|
| 2015-01-30 | Senate | Read twice and referred to the Committee on Finance. |
Subjects
Administrative law and regulatory procedures
Consumer credit
Department of the Treasury
Employee benefits and pensions
Income tax exclusion
Taxation
Consumer credit
Department of the Treasury
Employee benefits and pensions
Income tax exclusion
Taxation
US Congress State Sources
| Type | Source |
|---|---|
| Summary | https://www.congress.gov/bill/114th-congress/senate-bill/324/all-info |
| Text | https://www.congress.gov/114/bills/s324/BILLS-114s324is.pdf |
