HR 14717 · 94th Congress · Loans

A bill to amend the Employee Retirement Income Security Act of 1974 and the Internal Revenue Code of 1954 to allow a participant in a qualified employee savings plan to use the nonforfeitable benefit accrued in such plan as security for a loan from a bank or insured credit union.

Introduced 1976-07-19· Sponsored by Rep. Jones, James R. [D-OK-1]· House

Bill Progress

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Introduced
2
Committee
3
House Vote
4
Senate
5
Enacted
Latest: Reported to House from the Committee on Ways and Means with amendment, H. Rept. 94-1709.(1976-09-28)

Plain Language Summary

[AI summary unavailable — showing source text] Amends the Employee Retirement Income Security Act of 1974 and the Internal Revenue Code to allow a participant in a qualified employee savings plan to use the nonforfeitable benefit accrued in such plan as security for a loan from a bank or insured credit union.…

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