H.R. 4279 – Veteran Self Relief Act of 2012

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HouseIntro Referral Latest Action

Referred to the House Committee on Ways and Means.

Ways and Means Committee

March 28, 2012

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HouseIntro Referral

Introduced in House

March 28, 2012

HouseIntro Referral

Referred to the House Committee on Ways and Means.

Ways and Means Committee

March 28, 2012

Floor Debate

1 member

What members said about H.R. 4279 on the floor

1 Democrat

Rep. Mike QuigleyD-IL-5 · Sep 21, 2012

Mr. Speaker, I rise today to honor the long and distinguished career of Charles ``Charlie'' Michael. For over 40 years, Charlie has served as a soldier in the United States Army, as a contractor at…

Mr. Speaker, I rise today to honor the long and distinguished career of Charles ``Charlie'' Michael. For over 40 years, Charlie has served as a soldier in the United States Army, as a contractor at the Department of Defense, and as a civilian in the Department of the Army.

Charlie began his career in the United States Army as military policeman in 1968, serving in Okinawa, Vietnam, and Washington, DC. After separating from active duty in 1972, Charlie attended Lycoming College in Williamsport, PA, and earned a Bachelor's Degree in psychology. Following graduation from Lycoming, Charlie began working as a Family Court Hearing and Enforcement Officer. During that time, he also enlisted in the Army Reserve.

In 1981, Charlie entered the Army Active Guard Reserve Program as an executive officer, and held other posts throughout the 1980s. In 1998, Charlie retired from the Army Budget Office as the Army Reserve Liaison at the rank of Major.

After retiring from active duty, Charlie became a contractor and supported the Army Reserve Operations Division until 2003. Later, he became Deputy Division Chief for the Programming and Resource Division where he spearheaded significant improvements in readiness levels for Army units and individuals.

I first met Charlie when he arrived in my office in 2009 as an Army Fellow. During his time with us, Charlie worked on legislation important to veterans like H.R. 4279, which would allow veterans to receive educational assistance on an accelerated basis if they met certain criteria. Charlie's most important contribution to this office, though, may well be the delicious Coca-Cola Cake that he loved to make and that we all loved to enjoy.

As he retires from his long and distinguished career, I am certain that Charlie looks forward to moving to South Carolina with his wife Diane, and spending more time with his family including his son Brian, his daughter Christine, and his grandchildren Kaitlyn, Paige, and Samantha.

Mr. Speaker, I ask my colleagues to join me in recognizing Mr. Charles ``Charlie'' Michael and his service to this country in so many different capacities. It was an honor to have him work in my office. His tireless commitment and dedication to public service and the Armed Forces will be missed, and I wish him the best of luck in his future endeavors.

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Introduced in HouseIssued March 28, 2012

I

112th CONGRESS

2d Session

H. R. 4279

IN THE HOUSE OF REPRESENTATIVES

March 28, 2012

Mr. Young of Indiana (for himself, Mr. Hultgren, and Mr. Latta) 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 waive the 10 percent early distribution penalty with respect to withdrawals by unemployed veterans from certain retirement accounts.

1.

Short title

This Act may be cited as the Veteran Self Relief Act of 2012.

2.

Certain distributions from retirement accounts of unemployed veterans not subject to 10 percent penalty

(a)

In general

Paragraph (2) of section 72(t) of the Internal Revenue Code of 1986 is amended by adding at the end the following new subparagraph:

(H)

Certain distributions to unemployed veterans

Any qualified unemployed veteran distribution.

.

(b)

Definitions

Subsection (t) of section 72 of such Code is amended by adding at the end the following new paragraph:

(11)

Qualified unemployed veteran distribution

For purposes of this paragraph and paragraph (2)(H)—

(A)

Qualified unemployed veteran distribution

The term qualified unemployed veteran distribution means any distribution to a veteran (as defined in section 101 of title 38, United States Code) from a specified account if such distribution is made during a qualified unemployment-related distribution period.

(B)

Specified account

The term specified account means—

(i)

any individual retirement account of the veteran, and

(ii)

the Thrift Savings Fund established under section 8437 of title 5, United States Code.

(C)

Qualified unemployment-related distribution period

(i)

In general

The term qualified unemployment-related distribution period means so much of any qualified unemployment period as is after the 12 consecutive weeks referred to in clause (ii)(I).

(ii)

Qualified unemployment period

The term qualified unemployment period means, with respect to any veteran, any uninterrupted period of unemployment if—

(I)

such veteran receives unemployment compensation for 12 consecutive weeks under any Federal or State unemployment compensation law during such uninterrupted period, and

(II)

such uninterrupted period begins during the 1-year period beginning on the date of such veteran’s discharge or release which is referred to in section 101 of title 38, United States Code, with respect to such veteran.

.

(c)

Effective date

The amendments made by this section shall apply to distributions made after the date of the enactment of this Act.