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Text of A bill to amend the Internal Revenue Code of 1986 to extend the time period for contributing military death gratuities ...

...military death gratuities to Roth IRAs and Coverdell education savings accounts.

This bill was introduced on May 24, 2012, in a previous session of Congress, but was not enacted. The text of the bill below is as of May 24, 2012 (Introduced).

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Source: GPO

II

112th CONGRESS

2d Session

S. 3234

IN THE SENATE OF THE UNITED STATES

May 24, 2012

(for himself, Ms. Snowe, Ms. Mikulski, Mrs. Murray, and Mr. Tester) introduced the following bill; which was read twice and referred to the Committee on Finance

A BILL

To amend the Internal Revenue Code of 1986 to extend the time period for contributing military death gratuities to Roth IRAs and Coverdell education savings accounts.

1.

Extension of time period for contributing military death gratuities to Roth IRAs and Coverdell education savings accounts

(a)

In general

Sections 408A(e)(2)(A) and 530(d)(9)(A) of the Internal Revenue Code of 1986 are each amended by striking 1-year period and inserting 3-year period.

(b)

Effective date

The amendments made by this section shall apply to amounts received under section 1477 of title 10, United States Code, or under section 1967 of title 38 of such Code after the date of the enactment of this Act.