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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.

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The text of the bill below is as of Aug 1, 2012 (Passed the House).

I

112th CONGRESS

2d Session

H. R. 4365

IN THE HOUSE OF REPRESENTATIVES

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.

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..

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.

Karen L. Haas,

Clerk.