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HR 4221 100th Congress House

Section 457 Clarification Act of 1988

Official title: A bill to amend the Internal Revenue Code of 1986 to clarify that section 457 does not apply to nonelective deferred compensation or basic employee benefits.

Introduced: May 17, 1988 See on congress.gov
Taxation AccountingEmployee benefit plansIncome taxLabor and Employment
More subjectsShow fewer subjects
Local and Municipal GovernmentLocal officials and employeesState officials and employeesStatesTax-deferred compensation plansTax-exempt organizations
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This bill died when the 100th Congress ended
It never became law before the 100th Congress (1987–1988) adjourned, and bills don't carry over to the next Congress. It would have to be reintroduced. You can still save it for reference, but it won't receive updates.
 Everywhere this bill has been 3 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Nov 10, 1988
Provisions of Measure Incorporated Into H.R.4333.
Mar 22, 1988
Referred to House Committee on Ways and Means.
Mar 22, 1988
Introduced in House
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 Latest action November 10, 1988

Provisions of Measure Incorporated Into H.R.4333.

 Plain-English summary Congressional Research Service

Section 457 Clarification Act of 1988 - Amends Internal Revenue Code accounting rules governing the year of inclusion of compensation deferred under qualified plans of State and local governments and of private tax-exempt organizations. Declares the rules to be inapplicable to both nonelective deferred compensation and basic employee benefits, including bona fide vacation plans, sick leave plans, sabbatical leave, and similar benefits.

 Related & companion bills 1
  • HR 4333 Related bill Technical and Miscellaneous Revenue Act of 1988
 Committees of jurisdiction 1
 Cosponsors 4
All 4 Democratic 3
D
Markey, Edward J.
Massachusetts · Jul 6, 1988
 D
Schumer, Charles E.
New York · Jul 6, 1988
COMBEST, LARRY
· Jun 1, 1988
 D
Hoyer, Steny H.
Maryland · May 17, 1988
Cite this page click to expand
APA
U.S. Congress. (2026). H.R. 4221: Section 457 Clarification Act of 1988. 100th Congress. Open America. https://openamerica.io/bill/100-HR-4221/
MLA
"H.R. 4221: Section 457 Clarification Act of 1988." 100th Congress, 2026, Open America, https://openamerica.io/bill/100-HR-4221/.
Bluebook (legal)
H.R. 4221, 100th Cong. (2026), https://openamerica.io/bill/100-HR-4221/.
Markdown link
[H.R. 4221: Section 457 Clarification Act of 1988](https://openamerica.io/bill/100-HR-4221/)
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