109 HR 1499 IH: Heroes Earned Retirement Opportunities Act U.S. House of Representatives 2005-04-06 text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain.

I 109th CONGRESS 1st Session H. R. 1499 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.

1.

Short title

This Act may be cited as the Heroes Earned Retirement Opportunities Act.

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.