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S 1888 97th Congress Senate Taxation Income tax Retirement income Social Welfare Tax exclusion

A bill to amend the Internal Revenue Code of 1954 to clarify the tax treatment of variable annuity contracts.

Introduced: November 24, 1981 See on congress.gov
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This bill died when the 97th Congress ended
It never became law before the 97th Congress (1981–1982) 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 3 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Dec 1, 1981
Committee on Finance requested executive comment from OMB; Treasury Department.
Nov 24, 1981
Read second time and referred to Senate Committee on Finance.
Nov 24, 1981
Introduced in Senate
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 Plain-English summary Congressional Research Service

Amends the Internal Revenue Code to revise requirements for the tax deferral of amounts received under variable annuity contracts. Permits the use of an independent investment manager of such annuities. Allows the like-kind exchange of one annuity contract for another.

Provides that the tax treatment of any payment made by a contract holder on or before September 25, 1981 shall be determined without regard to Revenue Ruling 81-225 (disallowing tax deferral of amounts received under certain variable annuity contracts).

What's happening now December 1, 1981

Committee on Finance requested executive comment from OMB; Treasury Department.

 Related & companion bills 1
  • HR 5004 Identical bill A bill to amend the Internal Revenue Code of 1954 to clarify the tax treatment of variable annuity contracts.
 Committees of jurisdiction 1
 Cosponsors 1
All 1 Republican 1
R
Grassley, Chuck
Iowa · Nov 24, 1981
Cite this page click to expand
APA
U.S. Congress. (2026). S. 1888: A bill to amend the Internal Revenue Code of 1954 to clarify the tax treatment of variable annuity contracts.. 97th Congress. Open America. https://openamerica.io/bill/97-S-1888/
MLA
"S. 1888: A bill to amend the Internal Revenue Code of 1954 to clarify the tax treatment of variable annuity contracts.." 97th Congress, 2026, Open America, https://openamerica.io/bill/97-S-1888/.
Bluebook (legal)
S. 1888, 97th Cong. (2026), https://openamerica.io/bill/97-S-1888/.
Markdown link
[S. 1888: A bill to amend the Internal Revenue Code of 1954 to clarify the tax treatment of variable annuity contracts.](https://openamerica.io/bill/97-S-1888/)
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