HR 126 · 110th Congress · Taxation

To amend the Internal Revenue Code of 1986 to allow loans from individual retirement plans for qualified small business capital assets.

Introduced 2007-01-04· Sponsored by Rep. Fortenberry, Jeff [R-NE-1]· House

Bill Progress

✓
Introduced
2
Committee
3
House Vote
4
Senate
5
Enacted
Latest: Referred to the House Committee on Ways and Means.(2007-01-04)

Plain Language Summary

[AI summary unavailable — showing source text] Amends the Internal Revenue Code to exempt from the penalty tax for prohibited transactions loans from an individual retirement plan to acquire certain small business capital assets. Requires such loans to be repaid within five years.…

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