[Congressional Bills 103th Congress]
[From the U.S. Government Publishing Office]
[H.R. 1155 Introduced in House (IH)]

103d CONGRESS
  1st Session
                                H. R. 1155

   To amend title 5, United States Code, to restore the 3-year basis 
  recovery rule with respect to annuities under chapters 83 and 84 of 
              such title for Federal income tax purposes.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                             March 1, 1993

  Mr. Frank of Massachusetts introduced the following bill; which was 
referred jointly to the Committees on Post Office and Civil Service and 
                             Ways and Means

_______________________________________________________________________

                                 A BILL


 
   To amend title 5, United States Code, to restore the 3-year basis 
  recovery rule with respect to annuities under chapters 83 and 84 of 
              such title for Federal income tax purposes.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,
    (a)(1) Subchapter III of chapter 83 of title 5, United States Code, 
is amended by adding at the end the following:
``Sec. 8352. Three-year basis recovery rule
    ``Notwithstanding any provision of the Tax Reform Act of 1986 and 
any amendment made by such Act, the Internal Revenue Code of 1986 shall 
be applied and administered with respect to any amount paid under this 
subchapter for any period beginning after the date of the enactment of 
this section as if section 72(d) of the Internal Revenue Code of 1954 
(as in effect on October 21, 1986) had never been repealed.''.
    (2) The analysis for chapter 83 of title 5, United States Code, is 
amended by adding at the end the following:

``8352. Three-year basis recovery rule.''.
    (b)(1) Subchapter VI of chapter 84 of title 5, United States Code, 
is amended by adding at the end the following:
``Sec. 8470a. Three-year basis recovery rule
    ``Notwithstanding any provision of the Tax Reform Act of 1986 and 
any amendment made by such Act, the Internal Revenue Code of 1986 shall 
be applied and administered with respect to any amount paid under this 
chapter for any period beginning after the date of the enactment of 
this section as if section 72(d) of the Internal Revenue Code of 1954 
(as in effect on October 21, 1986) had never been repealed.''.
    (2) The analysis for chapter 83 of title 5, United States Code, is 
amended by adding after the item relating to section 8470 the 
following:

``8470a. Three-year basis recovery rule.''.

                                 <all>