Skip to main content
S 1239 115th Congress Senate Taxation Emergency medical services and trauma care Employee benefits and pensions Fires First responders and emergency personnel Health personnel Income tax deferral Inflation and prices Social work, volunteer service, charitable organizations

LOSAP CAP Act

Introduced: May 25, 2017 Introduced by: Collins, Susan M. Republican · Maine See on congress.gov
Sign in to write a letter Sign in to watch
This bill died when the 115th Congress ended
It never became law before the 115th Congress (2017–2018) 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
May 25, 2017
Read twice and referred to the Committee on Finance. (Sponsor introductory remarks on measure: CR S3216-3217)
May 25, 2017
Introduced in Senate
 Ask about this bill AI · grounded in the bill text

Have a question about what this bill does? Ask in plain English; the answer is drawn from the bill's actual text and official record, and it'll tell you when something isn't in the text rather than guess.

AI answers can be imperfect; always confirm against the full bill text.

 Plain-English summary Congressional Research Service

Length of Service Award Program Cap Adjustment Priority Act or the LOSAP CAP Act

This bill amends the Internal Revenue Code, with respect to deferred compensation plans, to increase the limit on accruals that is required for length of service award plans (LOSAPs) for bona fide volunteers to be exempt from treatment as a deferred compensation plan.

(Under current law, plans paying solely length of service awards to bona fide volunteers or their beneficiaries on the account of firefighting and prevention services, emergency medical services, and ambulance services performed by the volunteers are not treated as deferred compensation plans if they meet certain requirements. One of the requirements is a limit on the aggregate amount of length of service awards that may accrue with respect to any year of service for any bona fide volunteer.)

The bill modifies the limit on accruals to: (1) increase the limit from $3,000 to $6,000; (2) provide for a cost-of-living adjustment to the limit after 2017; and (3) specify that, in the case of LOSAPs that are defined benefit plans, the limit applies to the actuarial present value of the aggregate amount of length of service awards accruing with respect to any year of service.

What's happening now May 25, 2017

Read twice and referred to the Committee on Finance. (Sponsor introductory remarks on measure: CR S3216-3217)

 Related & companion bills 2
  • S 1 Related bill An original bill to provide for reconciliation pursuant to title II of the concurrent resolution on the budget for fisc…
  • HR 1720 Related bill LOSAP CAP Act
 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
 Cosponsors 1
All 1 Democratic 1
D
Schumer, Charles E.
New York · May 25, 2017
Cite this page click to expand
APA
U.S. Congress. (2026). S. 1239: LOSAP CAP Act. 115th Congress. Open America. https://openamerica.io/bill/115-S-1239/
MLA
"S. 1239: LOSAP CAP Act." 115th Congress, 2026, Open America, https://openamerica.io/bill/115-S-1239/.
Bluebook (legal)
S. 1239, 115th Cong. (2026), https://openamerica.io/bill/115-S-1239/.
Markdown link
[S. 1239: LOSAP CAP Act](https://openamerica.io/bill/115-S-1239/)
Report a problem