HR 4418 · 97th Congress · Taxation

A bill to amend the Internal Revenue Code of 1954 to repeal the provision which prohibits individual retirement accounts and certain other retirement plans from investing in collectibles.

Introduced 1981-09-09· Sponsored by Rep. Archer, Bill [R-TX-7]· House

Bill Progress

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Introduced

Committee

House Vote

Senate

Enacted

Latest: Referred to House Committee on Ways and Means.(1981-09-09)

Plain Language Summary

[AI summary unavailable — showing source text] Amends the Internal Revenue Code to repeal the provision which treats investments by individual retirement accounts and other retirement plans in collectibles as distributions equal to the cost of the collectible. Defines "collectibles" as items such as artworks, antiques, gems and coins.…

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

Cosponsors (8)

1 Democrat7 Republicans

Rep. Cheney, Dick [R-WY-At Large]WY

Rep. Santini, James D. [D-NV-98]NV

Rep. Gingrich, Newt [R-GA-6]GA

Rep. Marriott, David Daniel [R-UT-2]UT

Rep. Hansen, James V. [R-UT-1]UT

Rep. Smith, Albert L., Jr. [R-AL-6]AL

Rep. Carman, Gregory W. [R-NY-3]NY

Rep. Crane, Philip M. [R-IL-12]IL