H.R. 4365 (112th): To amend title 5, United States Code, to make clear that accounts in the Thrift Savings Fund ...

...are subject to certain Federal tax levies.

112th Congress, 2011–2013. Text as of Aug 02, 2012 (Referred to Senate Committee).

Status & Summary | PDF | Source: GPO

HR 4365 RFS

112th CONGRESS

2d Session

H. R. 4365

IN THE SENATE OF THE UNITED STATES

August 2, 2012

Received; read twice and referred to the Committee on Homeland Security and Governmental Affairs

AN ACT

To amend title 5, United States Code, to make clear that accounts in the Thrift Savings Fund are subject to certain Federal tax levies.

    Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,

SECTION 1. AMENDMENTS.

    Section 8437(e)(3) of title 5, United States Code, is amended in the first sentence--

      (1) by striking ‘659)’ and inserting ‘659),’; and

      (2) by striking the period at the end and inserting the following: ‘, and shall be subject to a Federal tax levy under section 6331 of the Internal Revenue Code of 1986.’.

SEC. 2. DISPOSITION OF AMOUNTS.

    Any potential revenue gain attributable to the enactment of this Act, as determined by the Director of the Congressional Budget Office--

      (1) shall be deposited in the general fund of the Treasury of the United States; and

      (2) shall be used solely for purposes of deficit reduction.

Passed the House of Representatives August 1, 2012.

Attest:

KAREN L. HAAS,

Clerk.