[Congressional Bills 106th Congress]
[From the U.S. Government Publishing Office]
[H.R. 802 Introduced in House (IH)]







106th CONGRESS
  1st Session
                                H. R. 802

   To amend the Internal Revenue Code of 1986 to increase the annual 
    limitation on deductible contributions to individual retirement 
                          accounts to $5,000.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                           February 23, 1999

    Mr. Moore (for himself, Mr. Frost, Mr. Hinchey, Mr. Bartlett of 
   Maryland, and Mr. Paul) 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 increase the annual 
    limitation on deductible contributions to individual retirement 
                          accounts to $5,000.

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

SECTION 1. INCREASE IN AMOUNT OF DEDUCTIBLE IRA CONTRIBUTIONS.

    (a) Increase in Maximum Amount of Deduction.--Subparagraph (A) of 
section 219(b)(1) of the Internal Revenue Code of 1986 (relating to 
maximum amount of deduction) is amended by striking ``$2,000'' and 
inserting ``$5,000''.
    (b) Conforming Amendments.--Subsections (a)(1), (b)(2), (j), and 
(p)(8) of section 408 of such Code are each amended by striking 
``$2,000'' each place it appears and inserting ``$5,000''.
    (c) Effective Date.--The amendments made by this section shall 
apply to taxable years beginning after December 31, 1998.
                                 <all>