S 2505
110th Congress
Senate
Taxation
Airline employees
Airlines
Bankruptcy
Commerce
Finance and Financial Sector
Income tax
Individual retirement accounts
Labor and Employment
Tax exclusion
Tax penalties
Transportation and Public Works
A bill to allow employees of a commercial passenger airline carrier who receive payments in a bankruptcy proceeding to roll over such payments into an individual retirement plan, and for other purposes.
Introduced: December 18, 2007
Introduced by:
Cantwell, Maria
Democratic
· Washington
See on congress.gov
Everywhere this bill has been
3 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Dec 18, 2007
Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S15919-15920)
Dec 18, 2007
Sponsor introductory remarks on measure. (CR S15919)
Dec 18, 2007
Introduced in Senate
Plain-English summary
Allows employees of commercial passenger airlines who receive payments from a bankruptcy case filed between September 11, 2001, and January 1, 2007, as compensation for lost pension plan benefits to rollover such payments into an individual retirement account (IRA), except for a Roth IRA, without tax or tax penalty.
What's happening now
Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S15919-15920)
Committees of jurisdiction
1
Cosponsors
1