[Congressional Bills 113th Congress]
[From the U.S. Government Publishing Office]
[H.R. 1643 Introduced in House (IH)]

113th CONGRESS
  1st Session
                                H. R. 1643

   To amend the Internal Revenue Code of 1986 to allow penalty-free 
 withdrawals from the Federal Thrift Savings Fund to employees who are 
        furloughed as a result of the Federal budget sequester.


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                    IN THE HOUSE OF REPRESENTATIVES

                             April 18, 2013

  Mr. Kilmer (for himself and Ms. Hanabusa) introduced the following 
      bill; which was referred to the Committee on Ways and Means

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                                 A BILL


 
   To amend the Internal Revenue Code of 1986 to allow penalty-free 
 withdrawals from the Federal Thrift Savings Fund to employees who are 
        furloughed as a result of the Federal budget sequester.

    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 ``Employee Hardship Financial Relief 
Act of 2013''.

SEC. 2. PENALTY-FREE WITHDRAWALS FROM THRIFT SAVINGS FUND TO FEDERAL 
              EMPLOYEES FURLOUGHED AS A RESULT OF SEQUESTER.

    (a) In General.--Paragraph (2) of section 72(t) of the Internal 
Revenue Code of 1986 (relating to subsection not to apply to certain 
distributions) is amended by adding at the end the following new 
subparagraph:
                    ``(H) Distributions from thrift savings fund to 
                furloughed federal employees.--Distributions to an 
                individual from the Thrift Savings Fund during the 
                period--
                            ``(i) beginning on the date that the 
                        individual is furloughed (as defined in section 
                        7811(a)(5) of title 5, United States Code) 
                        because of lack of funds, and
                            ``(ii) ending on the date which is 30 days 
                        after such furlough ceases for such individual,
                but only to the extent that the aggregate such 
                distributions with respect to any furlough does not 
                exceed the aggregate reduction in such individual's 
                compensation on account of such furlough.''.
    (b) Effective Date.--The amendment made by this section shall apply 
to distributions after the date of the enactment of this Act.
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