Text: H01633 Text: H01635 Text: H01600 - H01699 Text: H Index Bills and Amendments: General Index Bill History: General Index
PAG LIN
1 1 Amend House File 660, as passed by the House, as
1 2 follows:
1 3 #1. Page 1, by striking lines 22 through 33 and
1 4 inserting the following:
1 5 "(3) For simplified employee pension plans, self-
1 6 employed pension plans, Keogh plans (also known as
1 7 H.R. 10 plans), individual retirement accounts, Roth
1 8 individual retirement accounts, savings incentive
1 9 matched plans for employees, salary reduction
1 10 simplified employee pension plans (also known as
1 11 SARSEPs), and similar plans for retirement investments
1 12 authorized in the future under federal law, the
1 13 exemption for contributions shall not exceed, for each
1 14 tax year of contributions, the actual amount of the
1 15 contribution or two thousand dollars, whichever is
1 16 less. The exemption for accumulated earnings and
1 17 market increases in value of plans under this
1 18 subparagraph shall be limited to an amount determined
1 19 by multiplying all the accumulated earnings and market
1 20 increases in value by a fraction, the numerator of
1 21 which is the total amount of exempt contributions as
1 22 determined by this subparagraph, and the denominator
1 23 of which is the total of exempt and nonexempt
1 24 contributions to the plan.
1 25 For purposes of this paragraph "f", "market
1 26 increases in value" shall include, but shall not be
1 27 limited to, dividends, stock splits, interest, and
1 28 appreciation. "Contributions" means contributions by
1 29 the debtor and by the debtor's employer."
1 30 HF 660S
1 31 jj/cc/26
Text: H01633 Text: H01635 Text: H01600 - H01699 Text: H Index Bills and Amendments: General Index Bill History: General Index
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