US S674

Bill

A bill to amend the Internal Revenue Code of 1986 to clarify the retirement income account rules relating to church controlled organizations.

Introduced
03/21/2017

In Committee
03/21/2017

Crossed Over

Passed

Dead
12/31/2018

Introduced Session

115th Congress

Bill Summary

A bill to amend the Internal Revenue Code of 1986 to clarify the retirement income account rules relating to church controlled organizations. This bill amends the Internal Revenue Code to specify that a retirement income account provided by a church or a convention or association of churches may cover: (1) a duly ordained, commissioned, or licensed minister of a church in the exercise of his ministry, regardless of the source of his compensation; (2) an employee of a tax-exempt organization, whether a civil law corporation or otherwise, that is controlled by or associated with a church or a convention or association of churches; and (3) certain employees who have been separated from service with a church, a convention or association of churches, or an organization described above.

AI Summary

This bill amends the Internal Revenue Code to clarify the retirement income account rules relating to church-controlled organizations. Specifically, it specifies that a retirement income account provided by a church or a convention or association of churches may cover: (1) a minister of a church, regardless of the source of their compensation; (2) an employee of a tax-exempt organization controlled by or associated with a church; and (3) certain employees who have been separated from service with a church, a convention or association of churches, or a related organization.

Committee Categories

Budget and Finance

Sponsors (4)

Ben Cardin (D)*, Mike Crapo (R), Amy Klobuchar (D), Pat Roberts (R),

Last Action

Read twice and referred to the Committee on Finance. (on 03/21/2017)

Official Document

https://www.congress.gov/bill/115th-congress/senate-bill/674/all-info

(4 Companion Bills)

Version:

Document Type	Source Location
State Bill Page	https://www.congress.gov/bill/115th-congress/senate-bill/674/all-info
BillText	https://www.congress.gov/115/bills/s674/BILLS-115s674is.pdf
Bill	https://www.congress.gov/115/bills/s674/BILLS-115s674is.pdf.pdf

Bill	Bill Name	Last Action	Type
HR2341	SERVE Act Seeking an End to Restrictions on Votive Employees Act	Referred to the House Committee on Ways and Means.	Related
HR6757	Family Savings Act of 2018	Received in the Senate and Read twice and referred to the Committee on Finance.	Related
HRes1084	Providing for consideration of the bill (H.B. 6756) to amend the Internal Revenue Code of 1986 to promote new business innovation, and for other purposes; providing for consideration of the bill (H.B. 6757) to amend the Internal Revenue Code of 1986 to encourage retirement and family savings, and for other purposes; providing for consideration of the bill (H.B. 6760) to amend the Internal Revenue Code of 1986 to make permanent certain provisions of the Tax Cuts and Jobs Act affecting individuals	Motion to reconsider laid on the table Agreed to without objection.	Similar To
S2526	Retirement Enhancement and Savings Act of 2018	Read twice and referred to the Committee on Finance.	Related

Bill > S674

summary

Introduced Session

Bill Summary

AI Summary

Committee Categories

Sponsors (4)

Last Action

Official Document

bill text

bill summary

bill summary

bill summary