summary
Introduced
04/22/2021
04/22/2021
In Committee
04/22/2021
04/22/2021
Crossed Over
Passed
Dead
01/03/2023
01/03/2023
Introduced Session
117th Congress
Bill Summary
A BILL To amend section 414 of the Internal Revenue Code of 1986 to update the family attribution rule.
AI Summary
This bill, the Family Attribution Modernization Act, amends Section 414 of the Internal Revenue Code to update the family attribution rule. The key provisions are: (1) disregarding community property laws when determining ownership for the purposes of the attribution rules under Section 1563, (2) not attributing ownership that is not attributed to a spouse to their minor children, and (3) treating any changes in controlled group or affiliated service group status resulting from these changes as transactions to which Section 410(b)(6)(C) applies. The amendments made by this bill will apply to plan years beginning on or after the date of enactment.
Committee Categories
Budget and Finance
Sponsors (2)
Last Action
Referred to the House Committee on Ways and Means. (on 04/22/2021)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.congress.gov/bill/117th-congress/house-bill/2796/all-info |
| BillText | https://www.congress.gov/117/bills/hr2796/BILLS-117hr2796ih.pdf |
| Bill | https://www.congress.gov/117/bills/hr2796/BILLS-117hr2796ih.pdf.pdf |
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