US Congress House Bill 766 (Prior Session Legislation)

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Spectrum: Partisan Bill (Republican 1-0)
Status: Introduced on January 24 2019 - 25% progression, died in committee
Action: 2019-03-01 - Referred to the Subcommittee on Social Security.
Pending: House Subcommittee on Social Security Committee
Text: Latest bill text (Introduced) [PDF]

Allows certain employees who are not paid during a lapse in federal appropriations to make penalty-free withdrawals from retirement accounts. The bill applies to employees of the federal government, federal contractors, federal grantees, and the District of Columbia. The withdrawals may not exceed the amount of compensation the individual would have received during the lapse in appropriations if the lapse had not occurred. Any amount of the distribution that is required to be included in gross income for the year may be included ratably over a three-year period. An individual who makes such a withdrawal may repay the account by making additional contributions within 180 days of the end of the lapse in appropriations.

To allow penalty-free distributions from retirement accounts in the case of Federal employees and certain Federal contractors impacted by the Federal Government shutdown.

Rep. Garret Graves [R-LA]

Date	Chamber	Action
2019-03-01	House	Referred to the Subcommittee on Social Security.
2019-01-24	House	Referred to the Committee on Ways and Means, and in addition to the Committee on Oversight and Reform, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
2019-01-24	House	Referred to the Committee on Ways and Means, and in addition to the Committee on Oversight and Reform, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
2019-01-24	House	Introduced in House

HB545 (Related) 2019-03-01 - Referred to the Subcommittee on Oversight.
SB469 (Related) 2019-02-13 - Read twice and referred to the Committee on Finance.
SB486 (Related) 2019-02-14 - Read twice and referred to the Committee on Finance.

Type	Source
Summary	https://www.congress.gov/bill/116th-congress/house-bill/766/all-info
Text	https://www.congress.gov/116/bills/hr766/BILLS-116hr766ih.pdf