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HR 2999 104th Congress House Taxation Dismissal wage Income tax Labor and Employment Tax exclusion

To amend the Internal Revenue Code of 1986 to exclude certain severance payment amounts from income.

Introduced: February 29, 1996 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
Feb 29, 1996
Referred to the House Committee on Ways and Means.
Feb 29, 1996
Introduced in House
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 Plain-English summary Congressional Research Service

Amends the Internal Revenue Code to allow an individual to exclude any qualified severance payment amounts from gross income. Limits the exclusion to not exceed $50,000 with respect to any separation from employment.

What's happening now February 29, 1996

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 Republican 1
R
Smith, Christopher H.
New Jersey · Sep 27, 1996
Cite this page click to expand
APA
U.S. Congress. (2026). H.R. 2999: To amend the Internal Revenue Code of 1986 to exclude certain severance payment amounts from income.. 104th Congress. Open America. https://openamerica.io/bill/104-HR-2999/
MLA
"H.R. 2999: To amend the Internal Revenue Code of 1986 to exclude certain severance payment amounts from income.." 104th Congress, 2026, Open America, https://openamerica.io/bill/104-HR-2999/.
Bluebook (legal)
H.R. 2999, 104th Cong. (2026), https://openamerica.io/bill/104-HR-2999/.
Markdown link
[H.R. 2999: To amend the Internal Revenue Code of 1986 to exclude certain severance payment amounts from income.](https://openamerica.io/bill/104-HR-2999/)
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