HR 3312 · 100th Congress · Taxation

Section 457 Clarification Act of 1987

Introduced 1987-09-21· Sponsored by Rep. Matsui, Robert T. [D-CA-3]· House

Bill Progress

✓
Introduced
2
Committee
3
House Vote
4
Senate
5
Enacted
Latest: Provisions of Measure Incorporated Into H.R.4333.(1988-11-10)

Plain Language Summary

[AI summary unavailable — showing source text] Section 457 Clarification Act of 1987 - Amends the Internal Revenue Code to state that the accounting provisions applicable to the deferred compensation plans of State and local governments and of private tax-exempt organizations shall not apply to nonelective deferred compensation. Directs the Secretary of the Treasury to promulgate regulations defining nonelective deferred compensation. Applies retroactively to tax year 1979 and thereafter.…

Summarized by Claude AI · Non-partisan · For informational purposes only

Cosponsors (20)

7 Democrats13 Republicans
Rep. Vander Jagt, Guy [R-MI-9]MI
Rep. Archer, Bill [R-TX-7]TX
Rep. Donnelly, Brian J. [D-MA-11]MA
Rep. Gregg, Judd [R-NH-2]NH
Rep. Jenkins, Edgar L. [D-GA-9]GA
Rep. McGrath, Raymond J. [R-NY-5]NY
Rep. Crane, Philip M. [R-IL-12]IL
Rep. Gradison, Willis D., Jr. [R-OH-2]OH
Rep. Frenzel, Bill [R-MN-3]MN
Rep. Brown, Hank [R-CO-4]CO
Rep. Daub, Hal [R-NE-2]NE
Rep. Chandler, Rod D. [R-WA-8]WA
Rep. Moody, Jim [D-WI-5]WI
Rep. Flippo, Ronnie G. [D-AL-5]AL
Rep. Duncan, John J. [R-TN-2]TN
Rep. Schulze, Richard T. [R-PA-5]PA
Rep. Thomas, William M. [R-CA-20]CA
Rep. Anthony, Beryl, Jr. [D-AR-4]AR
Rep. Rangel, Charles B. [D-NY-16]NY
Rep. Kennelly, Barbara B. [D-CT-1]CT