HR 2951 · 109th Congress · Taxation

Lifetime Pension Annuity for You Act of 2005

Introduced 2005-06-16· Sponsored by Rep. Pomeroy, Earl [D-ND-At Large]· House

Bill Progress

✓
Introduced
2
Committee
3
House Vote
4
Senate
5
Enacted
Latest: Referred to the House Committee on Ways and Means.(2005-06-16)

Plain Language Summary

[AI summary unavailable — showing source text] Lifetime Pension Annuity for You Act of 2005 - Amends the Internal Revenue Code to allow an exclusion from gross income for 50 percent of the amount otherwise includible in gross income as lifetime income payments from certain annuity contracts. Limits the amount of such exclusion to $5,000 in any taxable year. Provides for an inflation adjustment of the $5,000 limitation beginning in 2007.…

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

Cosponsors (1)

1 Democrat
Rep. Costa, Jim [D-CA-20]CA