[Congressional Bills 109th Congress]
[From the U.S. Government Publishing Office]
[S. 601 Introduced in Senate (IS)]







109th CONGRESS
  1st Session
                                 S. 601

  To amend the Internal Revenue Code of 1986 to include combat pay in 
determining an allowable contribution to an individual retirement plan.


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                   IN THE SENATE OF THE UNITED STATES

                             March 10, 2005

  Mr. Conrad introduced the following bill; which was read twice and 
                  referred to the Committee on Finance

_______________________________________________________________________

                                 A BILL


 
  To amend the Internal Revenue Code of 1986 to include combat pay in 
determining an allowable contribution to an individual retirement plan.

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

SECTION 1. INCLUSION OF COMBAT PAY IN DETERMINING ALLOWABLE IRA 
              CONTRIBUTIONS.

    (a) In General.--The first sentence of section 219(f) of the 
Internal Revenue Code of 1986 (defining compensation) is amended by 
inserting ``and any amount excluded from gross income by reason of 
section 112'' after ``section 401(c)(2))''.
    (b) Effective Date.--The amendment made by this section shall apply 
to taxable years beginning after December 31, 2003.
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