[Congressional Bills 106th Congress]
[From the U.S. Government Publishing Office]
[H.R. 2282 Introduced in House (IH)]







106th CONGRESS
  1st Session
                                H. R. 2282

   To amend the Internal Revenue Code of 1986 to allow penalty-free 
withdrawals from individual retirement plans for adoption expenses and 
  to expand and extend permanently the exclusion allowed for employer 
                     adoption assistance programs.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                             June 18, 1999

Mr. Bliley (for himself, Mr. Oberstar, Mr. Camp, Mr. Scott, Mr. Burton 
of Indiana, Mr. Pomeroy, and Mr. DeMint) introduced the following bill; 
         which was referred to the Committee on Ways and Means

_______________________________________________________________________

                                 A BILL


 
   To amend the Internal Revenue Code of 1986 to allow penalty-free 
withdrawals from individual retirement plans for adoption expenses and 
  to expand and extend permanently the exclusion allowed for employer 
                     adoption assistance programs.

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

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Families First Act''.

SEC. 2. PENALTY-FREE WITHDRAWALS FROM INDIVIDUAL RETIREMENT PLANS FOR 
              ADOPTION EXPENSES.

    (a) In General.--Paragraph (2) of section 72(t) of the Internal 
Revenue Code of 1986 is amended by adding at the end the following new 
subparagraph:
                    ``(G) Qualified adoption expenses.--Distributions 
                from an individual retirement plan (other than 
                distributions described in the preceding subparagraphs 
                of this paragraph) to the extent that the amount of 
                such distributions does not exceed the lesser of--
                            ``(i) $5,000, or
                            ``(ii) the excess (if any) of--
                                    ``(I) the qualified adoption 
                                expenses (as defined in section 23(d)) 
                                paid by the taxpayer during the taxable 
                                year, over
                                    ``(II) the amount of the credit 
                                allowable under section 23 for such 
                                expenses (determined as if such credit 
                                were allowed for such year without 
                                regard to any limitation based on 
                                liability for tax).''
    (b) Effective Date.--The amendment made by this section shall apply 
to distributions after the date of the enactment of this Act.

SEC. 3. EMPLOYER ADOPTION ASSISTANCE PROGRAMS.

    (a) Permanent Extension.--Section 137 of the Internal Revenue Code 
of 1986 (relating to adoption assistance programs) is amended by 
striking subsection (f).
    (b) Increase in Dollar Limitation Amount.--Paragraph (1) of section 
137(b) of such Code (relating to dollar limitation) is amended by 
striking ``$5,000'' and all that follows and inserting ``$10,000''.
    (c) Increase in Income Limitation.--Subparagraph (A) of section 
137(b)(2) of such Code (relating to income limitation) is amended by 
striking ``$75,000'' and inserting ``$150,000''.
    (d) Effective Date.--The amendments made by this section shall 
apply to taxable years beginning after December 31, 1999.
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