HR 2896 · 103th Congress · Taxation

To amend the Internal Revenue Code of 1986 to permit penalty-free distributions from qualified retirement plans for unemployed individuals.

Introduced 1993-08-05· Sponsored by Rep. Ramstad, Jim [R-MN-3]· House

Bill Progress

✓
Introduced
2
Committee
3
House Vote
4
Senate
5
Enacted
Latest: Referred to the House Committee on Ways and Means.(1993-08-05)

Plain Language Summary

[AI summary unavailable — showing source text] Amends the Internal Revenue Code to allow penalty-free withdrawals from retirement plans by individuals who are unemployed, if: (1) such individuals have received unemployment compensation for 12 consecutive weeks; and (2) distributions are made in the year during which such compensation was paid or the succeeding year.…

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

Cosponsors (20)

9 Democrats11 Republicans
Rep. Frank, Barney [D-MA-4]MA
Rep. Talent, Jim [R-MO-2]MO
Rep. Lightfoot, Jim [R-IA-3]IA
Rep. Baker, Richard H. [R-LA-6]LA
Rep. Green, Gene [D-TX-29]TX
Rep. Zeliff, William H., Jr. [R-NH-1]NH
Rep. Lipinski, William O. [D-IL-3]IL
Rep. Emerson, Bill [R-MO-8]MO
Rep. Rohrabacher, Dana [R-CA-45]CA
Rep. Deal, Nathan [D-GA-9]GA
Rep. Fish, Hamilton, Jr. [R-NY-19]NY
Rep. Engel, Eliot L. [D-NY-17]NY
Rep. Weldon, Curt [R-PA-7]PA
Rep. Nadler, Jerrold [D-NY-8]NY
Rep. Levy, David A. [R-NY-4]NY
Rep. Cramer, Robert E. (Bud), Jr. [D-AL-5]AL
Rep. Gejdenson, Sam [D-CT-2]CT
Rep. Solomon, Gerald B. H. [R-NY-22]NY
Rep. Evans, Lane [D-IL-17]IL
Rep. Meyers, Jan [R-KS-3]KS