HR 12173 · 93th Congress ·

A bill to amend the Internal Revenue Code of 1954 to raise the limitations on contributions by self-employed individuals to certain retirement plans.

Introduced 1974-01-21· Sponsored by Rep. O'Brien, George M. [R-IL-17]· House

Bill Progress

✓
Introduced
2
Committee
3
House Vote
4
Senate
5
Enacted
Latest: Referred to House Committee on Ways and Means.(1974-01-21)

Plain Language Summary

[AI summary unavailable — showing source text] Provides for an increase in the contribution limitation for self-employed individuals to qualified retirement plans under the Internal Revenue Code. Limits the tax deduction for such contributions during any taxable year to $7,500 or 15 percent of the earned income of such self-employed individual.…

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