HR 2951
109th Congress
House
Taxation
Annuities
Cost of living adjustments
Economics and Public Finance
Finance and Financial Sector
Income tax
Indexing (Economic policy)
Labor and Employment
Life insurance
Tax exclusion
Tax-deferred compensation plans
Lifetime Pension Annuity for You Act of 2005
Introduced: June 16, 2005
See on congress.gov
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jun 16, 2005
Referred to the House Committee on Ways and Means.
Jun 16, 2005
Introduced in House
Plain-English summary
Lifetime Pension Annuity for You Act of 2005 - Amends the Internal Revenue Code to allow an exclusion from gross income for 50 percent of the amount otherwise includible in gross income as lifetime income payments from certain annuity contracts. Limits the amount of such exclusion to $5,000 in any taxable year. Provides for an inflation adjustment of the $5,000 limitation beginning in 2007.
What's happening now
Referred to the House Committee on Ways and Means.
Committees of jurisdiction
1
Cosponsors
1