HR 2365 · 104th Congress · Taxation

To amend the Internal Revenue Code of 1986 to allow deductible contributions to individual retirement plans designated as Retirement Years Savings Accounts.

Introduced 1995-09-19· Sponsored by Rep. Talent, Jim [R-MO-2]· House

Bill Progress

✓
Introduced
2
Committee
3
House Vote
4
Senate
5
Enacted
Latest: Referred to the House Committee on Ways and Means.(1995-09-19)

Plain Language Summary

[AI summary unavailable — showing source text] Amends the Internal Revenue Code to allow a deduction for contributions made by an individual who is younger than the age of 40 to an individual retirement plan designated as a Retirement Years Savings Account (RYS). Prohibits any rollover contribution to an RYS account unless: (1) such contribution is from another RYS account; or (2) such contribution is from another individual retirement plan (other than an RYS account) and is made before January 1998.…

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