[Congressional Bills 115th Congress]
[From the U.S. Government Publishing Office]
[S. 674 Introduced in Senate (IS)]

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115th CONGRESS
  1st Session
                                 S. 674

 To amend the Internal Revenue Code of 1986 to clarify the retirement 
   income account rules relating to church controlled organizations.


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                   IN THE SENATE OF THE UNITED STATES

                             March 21, 2017

  Mr. Cardin (for himself, Mr. Crapo, and Mr. Roberts) introduced the 
 following bill; which was read twice and referred to the Committee on 
                                Finance

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                                 A BILL


 
 To amend the Internal Revenue Code of 1986 to clarify the retirement 
   income account rules relating to church controlled organizations.

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

SECTION 1. CLARIFICATION OF RETIREMENT INCOME ACCOUNT RULES RELATING TO 
              CHURCH-CONTROLLED ORGANIZATIONS.

    (a) In General.--Subparagraph (B) of section 403(b)(9) of the 
Internal Revenue Code of 1986 is amended by inserting ``(including an 
employee described in section 414(e)(3)(B))'' after ``employee 
described in paragraph (1)''.
    (b) Effective Date.--The amendment made by this section shall apply 
to years beginning before, on, or after the date of the enactment of 
this Act.
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