Bill
Bill > HR8986
summary
Introduced
09/26/2022
09/26/2022
In Committee
09/26/2022
09/26/2022
Crossed Over
Passed
Dead
01/03/2023
01/03/2023
Introduced Session
117th Congress
Bill Summary
A BILL To amend the Internal Revenue Code of 1986 to extend the exemption from the retirement plan early withdrawal penalty for public safety officers to State and local gov- ernment corrections employees.
AI Summary
This bill, the State and Local Corrections Officer Retirement Fairness Act of 2022, seeks to amend the Internal Revenue Code to extend the exemption from the early withdrawal penalty for retirement plans to state and local government corrections employees, in addition to public safety officers and emergency medical services personnel. This change would allow corrections officers and forensic security employees providing for the care, custody, and control of forensic patients to withdraw funds from their retirement accounts before the standard retirement age without incurring the typical 10% penalty, effective for taxable years beginning after the bill's enactment.
Committee Categories
Budget and Finance
Sponsors (2)
Last Action
Referred to the House Committee on Ways and Means. (on 09/26/2022)
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/8986/all-info |
| BillText | https://www.congress.gov/117/bills/hr8986/BILLS-117hr8986ih.pdf |
| Bill | https://www.congress.gov/117/bills/hr8986/BILLS-117hr8986ih.pdf.pdf |
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