H.R. 418House110th Congress (2007-2009)In Committee

To amend the Internal Revenue Code of 1986 to permit military death gratuities to be contributed to certain tax-favored accounts.

Introduced January 11, 2007

Legislative Activity

Stay on top of the latest movement without scrolling through every action

1 earlier action
HouseIntro Referral Latest Action

Referred to the House Committee on Ways and Means.

January 11, 2007

View full timeline
HouseIntro Referral

Introduced in House

January 11, 2007

HouseIntro Referral

Referred to the House Committee on Ways and Means.

January 11, 2007

Floor Debate

22 members

What members said about H.R. 418 on the floor

13 Republicans9 Democrats
Dennis A. Cardoza
Rep. Dennis A. CardozaD-CA-18 · Jul 10, 2008

Madam Speaker, by direction of the Committee on Rules, I call up House Resolution 1317 and ask for its immediate consideration. Madam Speaker, for the purpose of debate only, I yield the customary 30…

Doc Hastings
Rep. Doc HastingsR-WA-4 · Jul 10, 2008

Madam Speaker, I want to thank my good friend from California (Mr. Cardoza) for yielding me the customary 30 minutes, and I yield myself as much time as I may consume. (Mr. HASTINGS of Washington…

Jim McDermott
Rep. Jim McDermottD-WA-7 · Nov 6, 2007

Madam Speaker, I move to suspend the rules and pass the bill (H.R. 3997) to amend the Internal Revenue Code of 1986 to provide earnings assistance and tax relief to members of the uniformed services,…

Tom Davis
Rep. Tom DavisR-VA-11 · Apr 19, 2007

I thank my colleague for yielding. I am going to support the bill at hand because it is the only way we can implement what we just did. I want to thank my friends on the other side. I know this is a…

Phil English
Rep. Phil EnglishR-PA-3 · Apr 19, 2007

Mr. Speaker, I yield myself such time as I may consume. Mr. Speaker, today the House is considering legislation that, in my view, represents the first brick in a Chinese wall of tax increases.…

Show 8 more
John Lewis
Rep. John LewisD-GA-5 · Apr 19, 2007

Mr. Speaker, pursuant to House Resolution 317, I call up the bill, (H.R. 1906) to amend the Internal Revenue Code of 1986 to adjust the estimated tax payment safe harbor based on income for the…

Phil English
Rep. Phil EnglishR-PA-3 · Nov 6, 2007

Madam Speaker, I yield myself such time as I may consume. Madam Speaker, we cannot express enough the tremendous debt of gratitude we owe the brave men and women who defend our freedoms every day. It…

Daniel E. Lungren
Rep. Daniel E. LungrenR-CA-3 · Jul 10, 2008

I appreciate the gentleman allowing me to get in the midst of this intramural squabble here on the Rules Committee. It seems like it was just the night before last that we came back to work…

Tom Price
Rep. Tom PriceR-GA-6 · Apr 19, 2007

Parliamentary inquiry, Mr. Speaker. Mr. Speaker, we have just heard the majority leader say that if either 1905 or 1906 fails, then they shall both be tabled. Mr. Speaker, can you tell me, this House…

Thomas M. Reynolds
Rep. Thomas M. ReynoldsR-NY-26 · Nov 6, 2007

I thank the gentleman from Pennsylvania. I want to thank both Chairman Rangel and Ranking Member McCrery, as well as Chairman Neal and Chairman McDermott and Ranking Members English and Weller, for…

Richard E. Neal
Rep. Richard E. NealD-MA-2 · Nov 6, 2007

Madam Speaker, I am delighted that this bipartisan legislation to assist our veterans is before the House today. It also is certainly of great assistance to our active duty military and Reservists…

Rob Bishop
Rep. Rob BishopR-UT-1 · Jul 10, 2008

Madam Speaker, I thank the gentleman from Washington for yielding. Bill Veeck was an old baseball owner and entrepreneur who used to say, ``I don't ever break the rules, I just test their…

Earl Pomeroy
Rep. Earl PomeroyD-ND · Nov 6, 2007

This is a photograph of Major Alan Johnson, his wife, Tori, and his daughter, Megan. This beautiful family suffered the tragedy of losing Major Johnson in Iraq. Last winter, we buried Major Johnson…

Show 11 more
Eleanor Holmes Norton
Rep. Eleanor Holmes NortonD-DC · Apr 19, 2007

I thank the gentleman from Georgia for yielding. I thank the gentleman from Georgia for leading this debate. Truly, you are the man to lead this debate on this great civil rights bill that the House…

Walter B. Jones
Rep. Walter B. JonesR-NC-3 · Oct 22, 2007

Mr. Speaker, I would like to thank Chairman Charlie Rangel and the House Ways and Means Committee for their work in putting together a package of legislation called the Heroes Earning Assistance and…

John Campbell
Rep. John CampbellR-CA-48 · Apr 19, 2007

Mr. Speaker, I thank the gentleman from Pennsylvania for yielding. The reason we have this bill and the reason we are having this debate is because the D.C. voting bill, which just passed this House,…

K. Michael Conaway
Rep. K. Michael ConawayR-TX-11 · Apr 19, 2007

Mr. Speaker, I appreciate the gentleman's yielding the time. It is interesting, and our good colleague has left, but I would wonder why we constantly talk about history from 6 years ago that…

Jerry Moran
Rep. Jerry MoranR-KS-1 · Nov 6, 2007

I thank the gentleman from Pennsylvania for recognizing me. This, as you can hear, is an important piece of legislation that is widely supported and praised here on the House floor today, but I am…

Steny H. Hoyer
Rep. Steny H. HoyerD-MD-5 · Apr 19, 2007

I appreciate my friend's comment. Aren't you the party that said that taxes were going to be cut up until 2010 and then because of the rules they will go back into effect? Will my friend yield? If…

Walter B. Jones
Rep. Walter B. JonesR-NC-3 · Nov 6, 2007

Madam Speaker, first, I would like to thank Chairman Rangel and Ranking Member McCrery for including H.R. 418 into the Heroes Earnings Assistance and Relief Tax Act of 2007. For several years I have…

Ron Kind
Rep. Ron KindD-WI-3 · Nov 6, 2007

Mr. Speaker, I rise today in strong support of H.R. 3997, the Heroes Earnings Assistance and Relief Tax, HEART Act of 2007. This bill provides a number of much-needed and deserved tax benefits to…

Lee Terry
Rep. Lee TerryR-NE-2 · Jul 10, 2008

Thank you. I appreciate this opportunity. My friend from California, I'd like to clarify a little bit. The 66 million acres are land that hasn't been authorized by Congress. In fact, the efforts by…

Paul D. Ryan
Rep. Paul D. RyanR-WI-1 · Apr 19, 2007

Mr. Speaker, will the gentleman yield? I thank the gentleman for yielding. I simply want to rise to say that the bill that just passed, which I actually supported because I think it was the right…

John B. Larson
Rep. John B. LarsonD-CT-1 · Nov 6, 2007

Madam Speaker, I want to extend as well and compliment Chairman Rangel, Chairman McDermott, and especially Chairman Neal, for the timely manner in which they have handled very important legislation…

Bill Text

Latest available legislative text

Reading Mode
Latest
Introduced in HouseIssued January 11, 2007

I

110th CONGRESS

1st Session

H. R. 418

IN THE HOUSE OF REPRESENTATIVES

January 11, 2007

Mr. Jones of North Carolina 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 permit military death gratuities to be contributed to certain tax-favored accounts.

1.

Contributions of military death gratuities to certain tax-favored accounts

(a)

Roth IRAs

Subsection (e) of section 408A of the Internal Revenue Code of 1986 (relating to qualified rollover contribution) is amended to read as follows:

(e)

Qualified rollover contribution

For purposes of this section—

(1)

In general

The term qualified rollover contribution means a rollover contribution to a Roth IRA from another such account, or from an individual retirement plan, but only if such rollover contribution meets the requirements of section 408(d)(3). Such term includes a rollover contribution described in section 402A(c)(3)(A). For purposes of section 408(d)(3)(B), there shall be disregarded any qualified rollover contribution from an individual retirement plan (other than a Roth IRA) to a Roth IRA.

(2)

Military death gratuity

(A)

In general

The term qualified rollover contribution includes a contribution to a Roth IRA maintained for the benefit of an individual to the extent that such contribution does not exceed the amount received by such individual under section 1477 of title 10, United States Code, or under section 1967 of title 38 of such Code, if such contribution is made not later than 1 year after the day on which such individual receives such amount.

(B)

Annual limit on number of rollovers not to apply

Section 408(d)(3)(B) shall not apply with respect to amounts treated as a rollover by subparagraph (A).

(C)

Application of section 72

For purposes of applying section 72 in the case of a distribution which is not a qualified distribution, the amount treated as a rollover by the subparagraph (A) shall be treated as investment in the contract.

.

(b)

Health savings accounts and Archer MSAs

Sections 220(f)(5) and 223(f)(5) of such Code are both amended by adding at the end the following flush sentence: For purposes of subparagraphs (A) and (B), rules similar to the rules of section 408A(e)(2) (relating to rollover treatment for contributions of military death gratuity) shall apply..

(c)

Education savings accounts

Section 530(d)(5) of such Code is amended by adding at the end the following new sentence: For purposes of this paragraph, rules similar to the rules of section 408A(e)(2) (relating to rollover treatment for contributions of military death gratuity) shall apply..

(d)

Effective dates

(1)

In general

Except as provided by paragraph (2), the amendments made by this section shall apply with respect to deaths from injuries occurring on or after the date of the enactment of this Act.

(2)

Application of amendments to deaths from injuries occurring on or after October 7, 2001, and before enactment

The amendments made by this section shall apply to any contribution made pursuant to section 408A(e)(2), 220(f)(5), 223(f)(5), or 530(d)(5) of the Internal Revenue Code of 1986, as amended by this Act, with respect to amounts received under section 1477 of title 10, United States Code, or under section 1967 of title 38 of such Code, for deaths from injuries occurring on or after October 7, 2001, and before the date of the enactment of this Act if such contribution is made not later than 1 year after the date of the enactment of this Act.