Technical Clarification to Public Law 113-243 Act of 2015
Bill journey · stage 2 of 5
Under committee review
What it doesSummary introduced in senate (Jun 23, 2015)
Technical Clarification to Public Law 113-243 Act of 2015
This bill amends the FAA Modernization and Reform Act of 2012 with respect to rollovers to a traditional individual retirement account (IRA) of payments to qualified airline employees in commercial airline carrier bankruptcy cases.
A commercial airline employee shall be qualified for such a rollover if he or she had participated in a commercial airline's tax-exempt defined benefit pension plan that was terminated or otherwise restricted.
The bill prescribes a special rule for airline payments received by a qualified employee from an airline carrier resulting from a bankruptcy case filed after September 11, 2001, and before January 1, 2007, or on November 29, 2011.
Under this special rule, the period for a qualified airline employee to make a tax-exempt rollover of such a payment into a traditional IRA shall be extended to the period beginning on December 18, 2014, and ending 180 days after the enactment of this Act.
What just happenedJun 23, 2015
Read twice and referred to the Committee on Finance.
Who’s behind it
- Introduced in SenateJun 23, 2015
- Jun 23, 2015IntroReferral
Read twice and referred to the Committee on Finance.
Finance Committee - Jun 23, 2015IntroReferral10000
Introduced in Senate