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To amend the Internal Revenue Code of 1986 to allow rollovers from other retirement plans into simple retirement accounts.

1/11/2023, 1:30 PM

Congressional Summary of HR 3050

Amends the Internal Revenue Code to allow tax-free rollovers from tax-exempt retirement plans, annuities, and deferred compensation plans into a simple individual retirement account.

Current Status of Bill HR 3050

Bill HR 3050 is currently in the status of Bill Introduced since July 14, 2015. Bill HR 3050 was introduced during Congress 114 and was introduced to the House on July 14, 2015.  Bill HR 3050's most recent activity was Referred to the House Committee on Ways and Means. as of July 14, 2015

Bipartisan Support of Bill HR 3050

Total Number of Sponsors
1
Democrat Sponsors
0
Republican Sponsors
1
Unaffiliated Sponsors
0
Total Number of Cosponsors
1
Democrat Cosponsors
1
Republican Cosponsors
0
Unaffiliated Cosponsors
0

Policy Area and Potential Impact of Bill HR 3050

Primary Policy Focus

Taxation

Potential Impact Areas

- Employee benefits and pensions
- Income tax exclusion

Alternate Title(s) of Bill HR 3050

To amend the Internal Revenue Code of 1986 to allow rollovers from other retirement plans into simple retirement accounts.
To amend the Internal Revenue Code of 1986 to allow rollovers from other retirement plans into simple retirement accounts.

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