HR 2796
117th Congress
House
Taxation
Employee benefits and pensions
Family relationships
Securities
Small business
Tax administration and collection, taxpayers
Family Attribution Modernization Act
Introduced: April 22, 2021
Introduced by:
Panetta, Jimmy
Democratic
· California
See on congress.gov
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Apr 22, 2021
Referred to the House Committee on Ways and Means.
Apr 22, 2021
Introduced in House
Plain-English summary
Family Attribution Modernization Act
This bill modifies testing rules for tax-exempt pension and profit sharing plans (e.g., 401k retirement plans) to eliminate attribution under the the family attribution rules (1) for spouses with separate businesses who reside in community property states, and (2) between parents with separate businesses who have minor children. The family attribution rule treats an individual taxpayer as owning property interests (e.g., stock) that are owned, directly or indirectly, by the individual's spouse, children, grandchildren, and parents.
What's happening now
Referred to the House Committee on Ways and Means.
Committees of jurisdiction
1
Cosponsors
1