To amend the Internal Revenue Code of 1986 to remove the requirement of a mandatory beginning date for distributions from individual retirement plans.

Amends the Internal Revenue Code to remove the requirement that individual retirement accounts must be distributed not later than a required beginning date.

[Congressional Bills 108th Congress]
[From the U.S. Government Publishing Office]
[H.R. 315 Introduced in House (IH)]







108th CONGRESS
  1st Session
                                H. R. 315

To amend the Internal Revenue Code of 1986 to remove the requirement of 
a mandatory beginning date for distributions from individual retirement 
                                 plans.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                            January 8, 2003

  Mr. Saxton 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 remove the requirement of 
a mandatory beginning date for distributions from individual retirement 
                                 plans.

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

SECTION 1. REMOVAL OF REQUIREMENT OF MANDATORY BEGINNING DATE FOR 
              DISTRIBUTIONS FROM INDIVIDUAL RETIREMENT PLANS.

    (a) In General.--Paragraph (6) of section 408(a) of the Internal 
Revenue Code of 1986 (relating to individual retirement account) and 
paragraph (3) of section 408(b) of such Code (relating to individual 
retirement annuity) are each amended by inserting ``(other than 
subparagraph (A) thereof)'' after ``section 401(a)(9)''.
    (b) Effective Date.--The amendment made by subsection (a) shall 
take effect on the date of the enactment of this Act.
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