HR 2997
100th Congress
House
Taxation
Business and commerce
Geriatrics
Health
Health insurance
Income tax
Individual retirement accounts
Insurance
Insurance premiums
Long-term care
Medical economics
Social Welfare
Tax exclusion
Tax-deferred compensation plans
A bill to amend the Internal Revenue Code of 1986 to exclude from gross income amounts withdrawn from individual retirement plans for payment of long-term care insurance premiums.
Introduced: July 23, 1987
See on congress.gov
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jul 23, 1987
Referred to House Committee on Ways and Means.
Jul 23, 1987
Introduced in House
Plain-English summary
Amends the Internal Revenue Code to exclude from gross income any distribution from an individual retirement plan if: (1) the payee has attained age 59 1/2 on or before the date of the distribution; and (2) the distribution is used to pay premiums for an insurance policy covering at least 12 months of medically necessary care for the payee or a spouse meeting the same 59 1/2 year age requirement.
What's happening now
Referred to House Committee on Ways and Means.
Committees of jurisdiction
1
Cosponsors
1