To amend the Internal Revenue Code of 1986 to extend the time period for contributing military death gratuities to Roth IRAs and Coverdell education savings accounts.

Amends the Internal Revenue Code to extend the period in which death gratuities (less amounts contributed to a Coverdell education savings account) and insurance proceeds payable to survivors of members of the Armed Forces or the Uniformed Services may be contributed to a Roth individual retirement account (Roth IRA) from one to three years after receipt of such gratuities or proceeds.

[Congressional Bills 113th Congress]
[From the U.S. Government Publishing Office]
[H.R. 4559 Introduced in House (IH)]

113th CONGRESS
  2d Session
                                H. R. 4559

 To amend the Internal Revenue Code of 1986 to extend the time period 
 for contributing military death gratuities to Roth IRAs and Coverdell 
                      education savings accounts.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                              May 1, 2014

 Mr. Schock (for himself, Mr. Blumenauer, Ms. Tsongas, and Mrs. Noem) 
 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 extend the time period 
 for contributing military death gratuities to Roth IRAs and Coverdell 
                      education savings accounts.

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

SECTION 1. EXTENSION OF TIME PERIOD FOR CONTRIBUTING MILITARY DEATH 
              GRATUITIES TO ROTH IRAS AND COVERDELL EDUCATION SAVINGS 
              ACCOUNTS.

    (a) In General.--Sections 408A(e)(2)(A) and 530(d)(9)(A) of the 
Internal Revenue Code of 1986 are each amended by striking ``1-year 
period'' and inserting ``3-year period''.
    (b) Effective Date.--The amendments made by this section shall 
apply to amounts received under section 1477 of title 10, United States 
Code, or under section 1967 of title 38 of such Code, after the date of 
the enactment of this Act.
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