Guardsmen and Reservists Financial Relief Act of 2004

3.0.0 1779 2023-01-15T23:18:04Z 2023-01-15T23:18:04Z House H HR 2003-04-11 108 ssfi00 Finance Committee Senate Standing Discharged from 2004-10-11T16:45:21Z Referred to 2004-04-22T17:21:35Z hswm00 Ways and Means Committee House Standing Referred to 2003-04-11T14:04:05Z Guardsmen and Reservists Financial Relief Act of 2004 108 2375 S 2004-05-03 Read twice and referred to the Committee on Finance. Identical bill CRS Guardsmen and Reservists Financial Relief Act of 2004 108 2474 S 2004-05-21 Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S6093) Identical bill CRS 2004-10-11 Senate Passed Senate with an amendment by Unanimous Consent. Floor 2004-10-11 Passed/agreed to in Senate: Passed Senate with an amendment by Unanimous Consent. Floor 17000 9 Library of Congress 2004-10-11 Senate Measure laid before Senate by unanimous consent. (consideration: CR S11222) Floor 2004-10-11 ssfi00 Finance Committee Senate Senate Committee on Finance discharged by Unanimous Consent. Discharge 2004-10-11 Senate Committee on Finance discharged by Unanimous Consent. Committee 14500 9 Library of Congress ssfi00 Finance Committee 2004-04-22 ssfi00 Finance Committee Senate Received in the Senate and Read twice and referred to the Committee on Finance. IntroReferral 2004-04-21 13:20:42 Motion to reconsider laid on the table Agreed to without objection. Floor H38310 2 House floor actions 2004-04-21 13:20:41 On motion to suspend the rules and pass the bill Agreed to by the Yeas and Nays: (2/3 required): 415 - 0 (Roll no. 125). (text: CR H2217-2218) Floor H37300 2 House floor actions 125 https://clerk.house.gov/evs/2004/roll125.xml House 108 2004-04-21T17:20:41Z 2 2004-04-21 13:20:41 Passed/agreed to in House: On motion to suspend the rules and pass the bill Agreed to by the Yeas and Nays: (2/3 required): 415 - 0 (Roll no. 125).(text: CR H2217-2218) Floor 8000 9 Library of Congress 125 https://clerk.house.gov/evs/2004/roll125.xml House 108 2004-04-21T17:20:41Z 2 2004-04-21 13:12:16 Considered as unfinished business. (consideration: CR H2226-2227) Floor H30000 2 House floor actions 2004-04-21 12:23:30 At the conclusion of debate, the Yeas and Nays were demanded and ordered. Pursuant to the provisions of clause 8, rule XX, the Chair announced that further proceedings on the motion would be postponed. Floor H37220 2 House floor actions 2004-04-21 11:39:41 DEBATE - The House proceeded with forty minutes of debate on H.R. 1779. Floor H8D000 2 House floor actions 2004-04-21 11:39:38 Considered under suspension of the rules. (consideration: CR H2217-2223) Floor H30000 2 House floor actions 2004-04-21 11:39:08 Mr. Shaw moved to suspend the rules and pass the bill. Floor H30300 2 House floor actions 2003-04-11 Referred to the House Committee on Ways and Means. IntroReferral H11100 2 House floor actions hswm00 Ways and Means Committee 2003-04-11 Introduced in House IntroReferral Intro-H 9 Library of Congress 2003-04-11 Introduced in House IntroReferral 1000 9 Library of Congress B001240 Rep. Beauprez, Bob [R-CO-7] Bob Beauprez R CO 7 N B001239 Rep. Barrett, J. Gresham [R-SC-3] J. Barrett R SC Gresham 3 2003-04-11 True G000280 Rep. Goode, Virgil H., Jr. [R-VA-5] VIRGIL GOODE R VA H. 5 2003-05-06 False J000255 Rep. Jones, Walter B., Jr. [R-NC-3] WALTER JONES R NC B. 3 2003-05-06 False S001151 Rep. Schrock, Edward L. [R-VA-2] EDWARD SCHROCK R VA L. 2 2003-05-06 False B001247 Rep. Brown-Waite, Ginny [R-FL-5] Ginny Brown-Waite R FL 5 2003-05-06 False E000187 Rep. English, Phil [R-PA-3] PHIL ENGLISH R PA 3 2003-05-06 False R000053 Rep. Rangel, Charles B. [D-NY-15] CHARLES RANGEL D NY B. 15 2003-05-08 False S001143 Rep. Souder, Mark E. [R-IN-3] MARK SOUDER R IN EDWARD 3 2003-05-08 False W000795 Rep. Wilson, Joe [R-SC-2] Joe Wilson R SC 2 2003-05-08 False F000448 Rep. Franks, Trent [R-AZ-2] Trent Franks R AZ 2 2003-05-08 False F000010 Del. Faleomavaega, Eni F. H. [D-AS-At Large] Eni Faleomavaega D AS F. H. 0 2003-05-08 False G000152 Rep. Gibbons, Jim [R-NV-2] JIM GIBBONS R NV 2 2003-05-15 False G000210 Rep. Gillmor, Paul E. [R-OH-5] PAUL GILLMOR R OH E. 5 2003-05-15 False D000482 Rep. Doyle, Michael F. [D-PA-14] MIKE DOYLE D PA 14 2003-05-15 False F000238 Rep. Foley, Mark [R-FL-16] MARK FOLEY R FL 16 2003-05-22 False B001248 Rep. Burgess, Michael C. [R-TX-26] Michael Burgess R TX C. 26 2003-06-05 False M001144 Rep. Miller, Jeff [R-FL-1] Jeff Miller R FL 1 2003-06-05 False D000599 Rep. Davis, Lincoln [D-TN-4] Lincoln Davis D TN 4 2003-06-05 False C000059 Rep. Calvert, Ken [R-CA-44] KEN CALVERT R CA 44 2003-06-23 False I000055 Rep. Isakson, Johnny [R-GA-6] Johnny Isakson R GA 6 2003-06-23 False H000807 Rep. Hostettler, John N. [R-IN-8] JOHN HOSTETTLER R IN 8 2003-09-10 False F000440 Rep. Fossella, Vito [R-NY-13] VITO FOSSELLA R NY 13 2004-04-20 False K000172 Rep. Kildee, Dale E. [D-MI-5] DALE KILDEE D MI E. 5 2004-04-20 False B001149 Rep. Burton, Dan [R-IN-5] DAN BURTON R IN 5 2004-04-20 False F000443 Rep. Ferguson, Mike [R-NJ-7] MIKE FERGUSON R NJ 7 2004-04-20 False R000033 Rep. Ramstad, Jim [R-MN-3] JIM RAMSTAD R MN 3 2004-04-20 False C001053 Rep. Cole, Tom [R-OK-4] Tom Cole R OK 4 2004-04-20 False C001051 Rep. Carter, John R. [R-TX-31] John Carter R TX R. 31 2004-04-20 False R000566 Rep. Ryun, Jim [R-KS-2] JIM RYUN R KS 2 2004-04-20 False G000549 Rep. Gerlach, Jim [R-PA-6] Jim Gerlach R PA 6 2004-04-20 False C001052 Rep. Chocola, Chris [R-IN-2] Chris Chocola R IN 2 2004-04-20 False D000597 Rep. Davis, Jo Ann [R-VA-1] JO ANN DAVIS R VA 1 2004-04-21 False R000435 Rep. Ros-Lehtinen, Ileana [R-FL-18] ILEANA ROS-LEHTINEN R FL 18 2004-04-21 False S000303 Rep. Shaw, E. Clay, Jr. [R-FL-22] E. SHAW R FL CLAY 22 2004-04-21 False Taxation Armed Forces and National Security Armed forces reserves Commerce Congress Congressional investigations Congressional reporting requirements Disaster relief Emergency Management Income tax Individual retirement accounts Labor and Employment National Guard Pension funds Recruiting and enlistment Recruiting of employees Small business Tax credits Tax exclusion Tax penalties Tax-deferred compensation plans Wages Withholding tax Taxation

00 2003-04-11 Introduced in House 2004-06-25T21:39:22Z Guardsmen and Reservists Financial Relief Act of 2004 - Amends the Internal Revenue Code to exempt from the ten percent penalty on early distributions from tax-exempt retirement plans, withdrawals made by military reservists or national guardsmen called to active duty for a period in excess of 179 days or for an indefinite period. Permits reimbursement of such withdrawals within two years after the end of the active duty period.

Applies the provisions of this Act to individuals ordered or called to active duty after September 11, 2001, and before September 12, 2005, for retirement plan distributions made after September 11, 2001.]]>

81 2004-04-21 Passed House without amendment 2004-06-25T21:36:43Z (This measure has not been amended since it was introduced. The summary of that version is repeated here.)

Guardsmen and Reservists Financial Relief Act of 2004 - Amends the Internal Revenue Code to exempt from the ten percent penalty on early distributions from tax-exempt retirement plans, withdrawals made by military reservists or national guardsmen called to active duty for a period in excess of 179 days or for an indefinite period. Permits reimbursement of such withdrawals within two years after the end of the active duty period.

35 2004-10-11 Passed Senate amended 2004-11-30T15:56:32Z Guardsmen and Reservists Financial Relief Act of 2004 - Amends the Internal Revenue Code to exempt from the ten percent penalty on premature distributions from tax-exempt retirement plans, distributions to military reservists or national guardsmen ordered or called to active duty for a period in excess of 179 days or for an indefinite period, if such distributions are made during the active duty period. Applies this exemption to individuals ordered or called to active duty after September 11, 2001, and before September 12, 2005.

Applies withholding of tax requirements to differential wage payments. Defines "differential wage payments" as employer payments made to an employee on active duty in the Uniformed Services for more than 30 days representing all or a portion of the wages such employee would have received if performing services for the employer. Treats differential wage payments as compensation for retirement plan purposes.

Allows certain small business employers (having an average of 50 or fewer employees): (1) a general business tax credit for 50 percent of the lesser of actual compensation paid to each Ready Reserve-National Guard employee while on active duty or $30,000 (terminates such credit after 2005); and (2) a work opportunity tax credit for employees hired to replace Ready Reserve-National Guard employees while such employees are on active duty (disqualifies employers who fail to comply with employment or reemployment rights of military reservists).

Directs the Comptroller General to study and report to Congress before July 1, 2005, on: (1) problems in recruiting military reservists; (2) problems in providing differential wage payments to military reservists; and (3) the effectiveness of the Ready Reserve-National Guard employee tax credit as an incentive for the hiring and retention of military reservist employees.

Exempts a qualified disaster-relief distribution from the ten percent penalty on premature distributions from tax-exempt retirement plans. Defines "qualified disaster-relief distribution" as any distribution from a tax-exempt retirement plan to an individual who has sustained a loss in excess of $100 as a result of a major disaster declared under the Robert T. Stafford Disaster Relief and Emergency Assistance Act. Requires such distribution to be made during the one year period after the date of the disaster declaration.

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Guardsmen and Reservists Financial Relief Act of 2004 Display Title Guardsmen and Reservists Financial Relief Act of 2004 Official Title as Introduced To amend the Internal Revenue Code of 1986 to allow penalty-free withdrawals from retirement plans during the period that a military reservist or national guardsman is called to active duty for an extended period, and for other purposes. Introduced in House IH Short Titles as Introduced Guardsmen and Reservists Financial Relief Act of 2003 Short Titles as Passed House Guardsmen and Reservists Financial Relief Act of 2004 H House Short Titles as Passed Senate Guardsmen and Reservists Financial Relief Act of 2004 S Senate 4061 108 SAMDT To provide an exception to the additional tax under section 72(t) of the Internal Revenue Code of 1986 for distributions to activated reservists or guardsmen, and for other purposes. 2021-09-29T23:17:53Z 2004-10-11 Amendment SA 4061 agreed to in Senate by Unanimous Consent. SA 4061 https://www.congress.gov/amendment/108th-congress/senate-amendment/4061 L000550 Sen. Landrieu, Mary L. [D-LA] MARY LANDRIEU D LA 12 12 B000611 Sen. Bond, Christopher S. [R-MO] CHRISTOPHER BOND R MO S. 2004-10-11 True J000072 Sen. Jeffords, James M. [I-VT] JAMES JEFFORDS I VT MERRILL 2004-10-11 True M001111 Sen. Murray, Patty [D-WA] Patty Murray D WA 2004-10-11 True G000359 Sen. Graham, Lindsey [R-SC] Lindsey Graham R SC 2004-10-11 True R000361 Sen. Rockefeller, John D., IV [D-WV] JAY ROCKEFELLER D WV 2004-10-11 True S001141 Sen. Sessions, Jeff [R-AL] Jeff Sessions R AL 2004-10-11 True N000032 Sen. Nelson, Bill [D-FL] CLARENCE NELSON D FL WILLIAM 2004-10-11 True W000154 Sen. Warner, John [R-VA] JOHN WARNER R VA WILLIAM 2004-10-11 True D000563 Sen. Durbin, Richard J. [D-IL] Richard Durbin D IL J. 2004-10-11 True K000148 Sen. Kerry, John F. [D-MA] JOHN KERRY D MA FORBES 2004-10-11 True B000711 Sen. Boxer, Barbara [D-CA] BARBARA BOXER D CA 2004-10-11 True M000702 Sen. Mikulski, Barbara A. [D-MD] BARBARA MIKULSKI D MD ANN 2004-10-11 True 2004-10-11T04:00:00Z 2004-10-11T04:00:00Z Senate 108 HR House H 1779 Guardsmen and Reservists Financial Relief Act of 2004 2023-01-15T23:18:04Z 6 2004-10-11 0 Senate Amendment SA 4061 agreed to in Senate by Unanimous Consent. Floor 2004-10-11 0 Senate Amendment SA 4061 proposed by Senator Landrieu. (consideration: CR S11222) To provide an exception to the additional tax under section 72(t) of the Internal Revenue Code of 1986 for distributions to activated reservists or guardsmen, and for other purposes. Floor 2004-10-11 Senate amendment proposed (on the floor): Amendment SA 4061 proposed by Senator Landrieu.(consideration: CR S11222) Floor 93000 9 Library of Congress 2004-10-11 Senate amendment agreed to: Amendment SA 4061 agreed to in Senate by Unanimous Consent. Floor 94000 9 Library of Congress 2004-10-11 Senate amendment submitted Floor 91000 9 Library of Congress Engrossed Amendment Senate 2004-10-11T04:00:00Z Referred in Senate 2004-04-22T04:00:00Z Engrossed in House 2004-04-21T04:00:00Z Introduced in House 2003-04-11T04:00:00Z 2004-10-11 Passed Senate with an amendment by Unanimous Consent. text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.