To amend title 5, United States Code, to make clear that accounts in the Thrift Savings Fund are subject to certain Federal tax levies.

(This measure has not been amended since it was reported to the House on July 30, 2012. The summary of that version is repeated here.)

Amends the Internal Revenue Code to make Thrift Savings Fund accounts subject to a federal tax levy.

Requires any revenue gain attributable to the enacment of this Act to be deposited in the general fund of the Treasury and used solely for deficit reduction.

[112th Congress Public Law 267]
[From the U.S. Government Publishing Office]



[[Page 126 STAT. 2440]]

Public Law 112-267
112th Congress

                                 An Act


 
To amend title 5, United States Code, to make clear that accounts in the 
         Thrift Savings Fund are subject to certain Federal tax 
             levies. <<NOTE: Jan. 14, 2013 -  [H.R. 4365]>> 

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,
SECTION 1. AMENDMENTS.

    Section 8437(e)(3) of title 5, United States Code, is amended in the 
first sentence--
            (1) by striking ``659)'' and inserting ``659),''; and
            (2) by striking the period at the end and inserting the 
        following: ``, and shall be subject to a Federal tax levy under 
        section 6331 of the Internal Revenue Code of 1986.''.
SEC. 2. <<NOTE: 5 USC 8437 note.>> DISPOSITION OF AMOUNTS.

    Any potential revenue gain attributable to the enactment of this 
Act, as determined by the Director of the Congressional Budget Office--
            (1) shall be deposited in the general fund of the Treasury 
        of the United States; and
            (2) shall be used solely for purposes of deficit reduction.

    Approved January 14, 2013.

LEGISLATIVE HISTORY--H.R. 4365:
---------------------------------------------------------------------------

HOUSE REPORTS: No. 112-630 (Comm. on Oversight and Government Reform).
CONGRESSIONAL RECORD:
                                                        Vol. 158 (2012):
                                    July 31, Aug. 1, considered and 
                                        passed House.
                                                        Vol. 158 (2013):
                                    Jan. 1, considered and passed 
                                        Senate.

                                  <all>