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HR 5761 114th Congress House Taxation Employee benefits and pensions Employment and training programs Income tax exclusion

Train the Future Act

Introduced: July 13, 2016 Introduced by: Bera, Ami Democratic · California See on congress.gov
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 Everywhere this bill has been 3 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Sep 19, 2016
Referred to the Subcommittee on Health, Employment, Labor, and Pensions.
Jul 13, 2016
Referred to the Committee on Ways and Means, and in addition to the Committee on Education and the Workforce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Jul 13, 2016
Introduced in House
 Plain-English summary Congressional Research Service

Train the Future Act

This bill amends the Internal Revenue Code to allow an early distribution, without penalty, from a qualified retirement plan to an employee who is serving as a mentor. The bill defines "mentor" as a working individual who: (1) has attained age 55; (2) works reduced hours and engages in mentoring activities for at least 20% of such hours; and (3) is responsible for the training and education of employees or students in an area of expertise for which such individual has a professional credential, certificate, or degree.

What's happening now September 19, 2016

Referred to the Subcommittee on Health, Employment, Labor, and Pensions.

 Committees of jurisdiction 3