117 S4024 IS: State and Local Corrections Officer Retirement Fairness Act of 2022 U.S. Senate 2022-04-07 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.

II117th CONGRESS2d SessionS. 4024IN THE SENATE OF THE UNITED STATESApril 7, 2022Mr. Toomey (for himself and Mr. Bennet) introduced the following bill; which was read twice and referred to the Committee on FinanceA BILLTo amend the Internal Revenue Code of 1986 to extend the exemption from the retirement plan early withdrawal penalty for public safety officers to State and local government corrections employees.

1.

Short title

This Act may be cited as the State and Local Corrections Officer Retirement Fairness Act of 2022.

2.

Exemption from early withdrawal penalty for certain State and local government corrections employees

(a)

In general

Clause (i) of section 72(t)(10)(B) of the Internal Revenue Code of 1986 is amended by striking or emergency medical services and inserting emergency medical services, or services as a corrections officer or as a forensic security employee providing for the care, custody, and control of forensic patients.(b)

Effective date

The amendment made by this section shall apply to taxable years beginning after the date of the enactment of this Act.