[Congressional Bills 103th Congress]
[From the U.S. Government Publishing Office]
[H.R. 4325 Introduced in House (IH)]

103d CONGRESS
  2d Session
                                H. R. 4325

  To exclude certain retirement accounts for purposes of determining 
   eligibility to receive food stamp benefits, aid to families with 
dependent children, supplemental security income benefits, and medicaid 
                               benefits.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                              May 3, 1994

Mr. Borski introduced the following bill; which was referred jointly to 
            the Committees on Agriculture and Ways and Means

_______________________________________________________________________

                                 A BILL


 
  To exclude certain retirement accounts for purposes of determining 
   eligibility to receive food stamp benefits, aid to families with 
dependent children, supplemental security income benefits, and medicaid 
                               benefits.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. EXCLUSION OF CERTAIN RETIREMENT ASSETS FOR THE PURPOSE OF 
              DETERMINING ELIGIBILITY FOR FOOD STAMP BENEFITS.

    (a) Amendment.--The first sentence of section 5(g)(2) of the Food 
Stamp Act of 1977 (7 U.S.C. 2014(g)(2)) is amended--
            (1) by striking ``, regardless of whether there is a 
        penalty for early withdrawal,'' and inserting ``amounts in'', 
        and
            (2) by inserting before the period at the end the 
        following:
``excluding any amount in a qualified retirement plan (as defined in 
section 4974(c) of the Internal Revenue Code of 1986) to the extent 
such amount could not be withdrawn from such plan without resulting in 
an increase in the Federal income tax liability of a family member by 
reason of section 72(t) of such Code''.
    (b) Application of Amendment.--The amendment made by subsection (a) 
shall not apply with respect to certification periods beginning before 
the effective date of this Act.

SEC. ______. DISREGARD OF CERTAIN RETIREMENT ASSETS IN DETERMINING 
              ELIGIBILITY FOR BENEFITS UNDER THE PROGRAM OF AID TO 
              FAMILIES WITH DEPENDENT CHILDREN.

    Section 402(a)(7)(B) of the Social Security Act (42 U.S.C. 
602(a)(7)(B)) is amended--
            (1) by striking ``or'' at the end of clause (iv); and
            (2) by inserting ``, or (v) any amount in a qualified 
        retirement plan (as defined in section 4974(c) of the Internal 
        Revenue Code of 1986) to the extent such amount could not be 
        withdrawn from such plan without resulting in an increase in 
        the Federal income tax liability of a family member by reason 
        of section 72(t) of such Code'' before the semicolon.

SEC. ______. DISREGARD OF CERTAIN RETIREMENT ASSETS IN DETERMINING 
              ELIGIBILITY FOR BENEFITS UNDER THE SUPPLEMENTAL SECURITY 
              INCOME PROGRAM.

    Section 1613(a) of the Social Security Act (42 U.S.C. 1382b(a)) is 
amended--
            (1) by striking the period at the end of the first 
        paragraph (10) and inserting a semicolon;
            (2) by redesignating the second paragraph (10) as paragraph 
        (11);
            (3) by striking the period at the end of paragraph (11) (as 
        so redesignated) and inserting ``; and''; and
            (4) by inserting after such paragraph (11) the following:
            ``(12) any amount in a qualified retirement plan (as 
        defined in section 4974(c) of the Internal Revenue Code of 
        1986) to the extent such amount could not be withdrawn from 
        such plan without resulting in an increase in the Federal 
        income tax liability of a family member by reason of section 
        72(t) of such Code.''.

SEC. 4. EFFECTIVE DATE.

    Except as otherwise provided in this Act, this Act and the 
amendments made by this Act shall take effect 60 days after the date of 
the enactment of this Act.

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