HR 4552 · 102th Congress · Taxation

To amend the Internal Revenue Code of 1986 to permit individual retirement accounts to be used as security for loans.

Introduced 1992-03-24· Sponsored by Rep. Gingrich, Newt [R-GA-6]· House

Bill Progress

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Introduced
2
Committee
3
House Vote
4
Senate
5
Enacted
Latest: Referred to the House Committee on Ways and Means.(1992-03-24)

Plain Language Summary

[AI summary unavailable — showing source text] Repeals the provision of the Internal Revenue Code which treats as a distribution to the beneficiary any portion of an individual retirement account (IRA) that is used as security for a loan (thus permitting tax-free use of an IRA as such security).…

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