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HR 1251 104th Congress House Taxation Dismissal wage Income tax Individual retirement accounts Labor and Employment Layoffs Tax exclusion Tax-deferred compensation plans

To amend the Internal Revenue Code of 1986 to permit the tax-free rollover of certain payments made by employers to separated employees.

Introduced: March 15, 1995 See on congress.gov
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This bill died when the 104th Congress ended
It never became law before the 104th Congress (1995–1996) 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 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Mar 15, 1995
Referred to the House Committee on Ways and Means.
Mar 15, 1995
Introduced in House
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 Plain-English summary Congressional Research Service

Amends the Internal Revenue Code to exclude from gross income qualified separation payments transferred to individual retirement accounts. Describes such payments as qualified if: (1) such payments were voluntarily paid by the employer on account of separation before attainment of normal retirement age; and (2) such separation was in connection with a substantial reduction in the employer's work force.

What's happening now March 15, 1995

Referred to the House Committee on Ways and Means.

 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
 Cosponsors 1
All 1 Democratic 1
D
Bishop, Sanford D.
Georgia · Apr 7, 1995
Cite this page click to expand
APA
U.S. Congress. (2026). H.R. 1251: To amend the Internal Revenue Code of 1986 to permit the tax-free rollover of certain payments made by employers to separated employees.. 104th Congress. Open America. https://openamerica.io/bill/104-HR-1251/
MLA
"H.R. 1251: To amend the Internal Revenue Code of 1986 to permit the tax-free rollover of certain payments made by employers to separated employees.." 104th Congress, 2026, Open America, https://openamerica.io/bill/104-HR-1251/.
Bluebook (legal)
H.R. 1251, 104th Cong. (2026), https://openamerica.io/bill/104-HR-1251/.
Markdown link
[H.R. 1251: To amend the Internal Revenue Code of 1986 to permit the tax-free rollover of certain payments made by employers to separated employees.](https://openamerica.io/bill/104-HR-1251/)
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