H.R. 2355 (110th): Reservists and Guardsmen Tax Relief Act of 2007
110th Congress, 2007–2009. Text as of May 16, 2007 (Introduced).
Status & Summary | PDF | Source: GPO
HR 2355 IH
To amend the Internal Revenue Code of 1986 to extend the authority for penalty-free withdrawals from retirement plans by military reservists or national guardsmen called to active duty for extended periods.
May 16, 2007
Mr. WELDON of Florida introduced the following bill; which was referred to the Committee on Ways and Means
To amend the Internal Revenue Code of 1986 to extend the authority for penalty-free withdrawals from retirement plans by military reservists or national guardsmen called to active duty for extended periods.
Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
This Act may be cited as the `Reservists and Guardsmen Tax Relief Act of 2007'.
SEC. 2. EXTENSION OF PENALTY-FREE WITHDRAWALS BY MILITARY RESERVISTS OR NATIONAL GUARDSMEN CALLED TO ACTIVE DUTY.
(a) In General- Clause (iv) of section 72(t)(2)(G) of the Internal Revenue Code of 1986 (relating to application of subparagraph) is amended by striking `December 31, 2007' and inserting `January 1, 2009'.
(b) Effective Date- The amendment made by this section shall apply to individuals ordered or called to active duty on or after December 31, 2007.