Text: S03363                            Text: S03365
Text: S03300 - S03399                   Text: S Index
Bills and Amendments: General Index     Bill History: General Index

Senate Amendment 3364

Amendment Text

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 
  1 31 
  1 32                               
  1 33 LARRY McKIBBEN 
  1 34 HF 660.701 78
  1 35 jj/sc
     

Text: S03363                            Text: S03365
Text: S03300 - S03399                   Text: S Index
Bills and Amendments: General Index     Bill History: General Index

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