[Congressional Bills 109th Congress]
[From the U.S. Government Publishing Office]
[H.R. 1499 Introduced in House (IH)]






109th CONGRESS
  1st Session
                                H. R. 1499

  To amend the Internal Revenue Code of 1986 to allow a deduction to 
members of the Armed Forces serving in a combat zone for contributions 
to their individual retirement plans even if the compensation on which 
such contribution is based is excluded from gross income, and for other 
                               purposes.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                             April 6, 2005

   Ms. Foxx 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 a deduction to 
members of the Armed Forces serving in a combat zone for contributions 
to their individual retirement plans even if the compensation on which 
such contribution is based is excluded from gross income, and for other 
                               purposes.

    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 ``Heroes Earned Retirement 
Opportunities Act''.

SEC. 2. COMBAT ZONE COMPENSATION TAKEN INTO ACCOUNT FOR PURPOSES OF 
              DETERMINING LIMITATION AND DEDUCTIBILITY OF CONTRIBUTIONS 
              TO INDIVIDUAL RETIREMENT PLANS.

    (a) In General.--Subsection (b) of section 219 of the Internal 
Revenue Code of 1986 is amended by adding at the end the following new 
paragraph:
            ``(6) Special rule for compensation earned by members of 
        the armed forces for service in a combat zone.--For purposes of 
        paragraph (1)(B), gross income shall be determined without 
        regard to section 112.''.
    (b) Effective Date.--The amendment made by this section shall apply 
to taxable years beginning after December 31, 2004.
                                 <all>