S 1623
100th Congress
Senate
Taxation
Agriculture and Rural Affairs
Communications and Broadcasting
Cooperative societies
Employee benefit plans
Income tax
Labor and Employment
Pension funds
Rural affairs legislation
Tax-deferred compensation plans
Tax-exempt organizations
Telephone
A bill to amend the Internal Revenue Code of 1986 to permit rural telephone cooperatives to have qualified cash or deferred arrangements, and for other purposes.
Introduced: August 7, 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
Aug 7, 1987
Read twice and referred to the Committee on Finance.
Aug 7, 1987
Introduced in Senate
Plain-English summary
Amends the Internal Revenue Code to accord income tax treatment as a qualified cash or deferred arrangement (401(k) plan) to a defined contribution plan established and maintained by a rural telephone cooperative. (Under current law, rural electric cooperatives, but not rural telephone cooperatives, are permitted to offer such plans to their employees.) Applies to such plans the same accounting rules as are currently applied to the plans of rural electric cooperatives.
What's happening now
Read twice and referred to the Committee on Finance.
Committees of jurisdiction
1
Cosponsors
1