H.R.2327 - To amend the Internal Revenue Code of 1986 to permit tax-exempt organizations to establish qualified cash or deferred arrangements for their employees.102nd Congress (1991-1992)
|Sponsor:||Rep. Levin, Sander M. [D-MI-17] (Introduced 05/14/1991)|
|Committees:||House - Ways and Means|
|Latest Action:||House - 05/14/1991 Referred to the House Committee on Ways and Means. (All Actions)|
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Text: H.R.2327 — 102nd Congress (1991-1992)All Information (Except Text)
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Introduced in House
HR 2327 IH 102d CONGRESS 1st Session H. R. 2327 To amend the Internal Revenue Code of 1986 to permit tax-exempt organizations to establish qualified cash or deferred arrangements for their employees. IN THE HOUSE OF REPRESENTATIVES May 14, 1991 Mr. LEVIN of Michigan (for himself, Mr. DOOLITTLE, Mr. HENRY, Mr. KYL, Mr. ROTH, Mr. DORGAN of North Dakota, Mr. KLECZKA, Mr. SENSENBRENNER, Ms. PELOSI, Mr. CARR, Mr. HORTON, Mr. KANJORSKI, Mr. STEARNS, Mr. PETRI, Mr. WOLPE, Mr. FROST, Mr. DICKINSON, Mr. VANDER JAGT, Mr. BONIOR, Mrs. JOHNSON of Connecticut, Mr. HALL of Texas, Mr. CUNNINGHAM, Mr. FORD of Michigan, Mr. PURSELL, Mr. LANCASTER, Mr. BEREUTER, Mr. LEHMAN of Florida, Mr. COSTELLO, Mr. RHODES, Mr. PAXON, Mr. SLATTERY, Mr. BURTON of Indiana, Mr. WISE, Mr. DANNEMEYER, Mr. MONTGOMERY, Mr. GORDON, Mr. PAYNE of Virginia, Mr. HUGHES, Mr. OXLEY, Mr. SUNDQUIST, Mr. GEKAS, Mr. CRANE, Mr. ERDREICH, Mr. ESPY, Mr. DICKS, Mr. MOODY, Mr. KLUG, Mr. HUTTO, Mr. EVANS, Mr. EMERSON, Mr. FAWELL, Mr. LIGHTFOOT, Mr. ENGLISH, Mr. DELAY, Mr. IRELAND, and Mr. GUARINI) introduced the following bill; which was referred to the Committee on Ways and Means A BILL To amend the Internal Revenue Code of 1986 to permit tax-exempt organizations to establish qualified cash or deferred arrangements for their employees. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, That (a) subparagraph (B) of section 401(k)(4) of the Internal Revenue Code of 1986 is amended to read as follows: `(B) STATE AND LOCAL GOVERNMENTS NOT ELIGIBLE- A cash or deferred arrangement shall not be treated as a qualified cash or deferred arrangement if it is part of a plan maintained by a State or local government or political subdivision thereof, or any agency or instrumentality thereof. This subparagraph shall not apply to a rural cooperative plan.'. (b) The amendment made by subsection (a) shall apply to years beginning after December 31, 1991.