3.0.0 940 2023-01-11T13:36:56Z 2023-01-11T13:36:56Z Senate S 2017-04-25 115 ssfi00 Finance Committee Senate Standing Referred to 2017-04-25T20:56:13Z Savings Enhancement by Alleviating Leakage in 401(k) Savings Act 115 2030 HR 2017-04-06 Referred to the House Committee on Ways and Means. Related bill CRS 2017-04-25 ssfi00 Finance Committee Senate Read twice and referred to the Committee on Finance. IntroReferral 2017-04-25 Introduced in Senate IntroReferral 10000 9 Library of Congress E000285 Sen. Enzi, Michael B. [R-WY] MICHAEL ENZI R WY B. N N000032 Sen. Nelson, Bill [D-FL] CLARENCE NELSON D FL WILLIAM 2017-04-25 True Taxation Administrative law and regulatory procedures Consumer credit Department of the Treasury Employee benefits and pensions Income tax exclusion Taxation 00 2017-04-25 Introduced in Senate 2017-06-30T11:50:39Z Shrinking Emergency Account Losses Act of 2017 or the SEAL Act

This bill amends the Internal Revenue Code, with respect to loans made from a qualified employer plan, to: (1) extend the period for repayment of loans if a plan terminates or a plan participant becomes unemployed, and (2) prohibit qualified employer plans from making loans using credit cards or any other similar arrangement.

The bill also requires the Department of the Treasury to modify regulations governing hardship distributions from qualified employer plans to allow participants to make additional contributions to a plan during the six-month period following a hardship distribution.

]]> SEAL Act Display Title SEAL Act Official Title as Introduced A bill to amend the Internal Revenue Code of 1986 to modify the rules relating to loans made from a qualified employer plan, and for other purposes. Introduced in Senate IS Short Titles as Introduced SEAL Act Short Titles as Introduced Shrinking Emergency Account Losses Act of 2017 Introduced in Senate 2017-04-25T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-115s940is/xml/BILLS-115s940is.xml 2017-04-25 Read twice and referred to the Committee on Finance. 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.