A bill to amend the Internal Revenue Code of 1954 to permit individual retirement accounts and individually-directed accounts to acquire and dispose of tangible investment assets in transactions with persons other than interested persons.

[AI summary unavailable — showing source text] Amends the Internal Revenue Code to revise the restrictions on investments in tangible investment assets by individual retirement accounts and individually directed accounts. Allows such investments except for: (1) the acquisition of a tangible investment asset from the individual (or his beneficiaries) for whose benefit the account was created; or (2) the transfer (by distribution or otherwise) of a tangible investment asset from an account to the individual (or his beneficiaries) for whose benefit the account has been created.…