Text: H.R.2327 — 102nd Congress (1991-1992)All Information (Except Text)

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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.