S. 1623 (100th): A bill to amend the Internal Revenue Code of 1986 to permit rural telephone cooperatives to have qualified cash or deferred arrangements, and for other purposes.

Introduced:
Aug 07, 1987 (100th Congress, 1987–1988)
Sponsor:
Sen. Thomas “Tom” Daschle [D-SD]
Status:
Died (Referred to Committee)

The bill’s title was written by the bill’s sponsor. S. stands for Senate bill.

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Status

This bill was introduced on August 7, 1987, in a previous session of Congress, but was not enacted.

Progress
Introduced Aug 07, 1987
Referred to Committee Aug 07, 1987
Cosponsors
8 cosponsors (5D, 3R) (show)
Committees

Senate Finance

The committee chair determines whether a bill will move past the committee stage.

Summary

No summaries available.

Text

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Primary Source

View on THOMAS (The Library of Congress)

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GovTrack’s Bill Summary

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Library of Congress Summary

The summary below was written by the Congressional Research Service, which is a nonpartisan division of the Library of Congress.

8/7/1987--Introduced.
Amends the Internal Revenue Code to accord income tax treatment as a qualified cash or deferred arrangement (401(k) plan) to a defined contribution plan established and maintained by a rural telephone cooperative. (Under current law, rural electric cooperatives, but not rural telephone cooperatives, are permitted to offer such plans to their employees.) Applies to such plans the same accounting rules as are currently applied to the plans of rural electric cooperatives.

House Republican Conference Summary

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House Democratic Caucus Summary

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