3.0.0 5125 2022-12-29T08:33:29Z 2022-12-29T08:33:29Z Senate S 2022-11-17 117 ssfi00 Finance Committee Senate Standing Referred to 2022-11-17T21:18:27Z Family Attribution Modernization Act 117 2796 HR 2021-04-22 Referred to the House Committee on Ways and Means. Related bill CRS Securing a Strong Retirement Act of 2021 117 2954 HR 2022-03-30 Received in the Senate and Read twice and referred to the Committee on Finance. Related bill CRS EARN Act 117 4808 S 2022-09-08 Placed on Senate Legislative Calendar under General Orders. Calendar No. 480. Related bill CRS 2022-11-17 ssfi00 Finance Committee Senate Read twice and referred to the Committee on Finance. IntroReferral 2022-11-17 Introduced in Senate IntroReferral 10000 9 Library of Congress K000377 Sen. Kelly, Mark [D-AZ] Mark Kelly D AZ N C001075 Sen. Cassidy, Bill [R-LA] Bill Cassidy R LA 2022-11-17 True Taxation Taxation 00 2022-11-17 Introduced in Senate 2022-12-16T18:17:11Z Family Attribution Modernization Act

This bill modifies family attribution rules for purposes of tax-exempt pension and profit sharing plans (e.g., 401k retirement plans) to provide that (1) community property laws shall be disregarded for purposes of determining ownership under attribution rules, and (2) attribution is eliminated for spouses and minor children under certain circumstances. The family attribution rule treats an individual taxpayer as owning property interests (e.g., stock) that are owned, directly or indirectly, by the individual's spouse, children, grandchildren, and parents.

]]> Family Attribution Modernization Act Display Title Family Attribution Modernization Act Short Title(s) as Introduced Family Attribution Modernization Act Introduced in Senate IS Official Title as Introduced A bill to amend the Internal Revenue Code of 1986 to reform the application of family attribution rules for purposes of retirement plans. Introduced in Senate IS Introduced in Senate 2022-11-17T05:00:00Z https://www.govinfo.gov/content/pkg/BILLS-117s5125is/xml/BILLS-117s5125is.xml 2022-11-17 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.