House bill HR7146-117

Ways and Means Committee

To amend the Internal Revenue Code of 1986 to provide for penalty-free withdrawals from retirement accounts for certain emergency expenses, and for other purposes.

• Last activity on Mar 17, 2022

• Introduced Mar 17, 2022

• By Rep. Wenstrup, Brad R. [R-OH-2]

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Main Subject: Taxation

Enhancing Emergency and Retirement Savings Act of 2022

This bill permits penalty-free distributions, up to $1,000, from tax-exempt retirement plans for emergency personal expenses, limited to one distribution in a calendar year. The bill allows repayment to plans of such distributions over a three-year period.

S1870-117, S4808-117,

House floor actions Actions

IntroReferral
Mar. 17 2022	Referred to the House Committee on Ways and Means.

Library of Congress Actions

IntroReferral
Mar. 17 2022	Introduced in House Introduced in House

House bill HR7146-117

To amend the Internal Revenue Code of 1986 to provide for penalty-free withdrawals from retirement accounts for certain emergency expenses, and for other purposes.

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