To amend the Internal Revenue Code of 1986 to expand the availability of penalty-free distributions to unemployed individuals from retirement plans.
Analysis under review: This bill has generated analysis that may be too generic or incomplete. Clause-level evidence remains available below.
Summary
What This Bill Does
The bill requires expansion of exception for penalty on early distributions to unemployed individuals from retirement plans Section 72(t)(2) of the Internal Revenue Code of 1986 is amended by adding at the end the following new. It relies on tax rate changes, compliance mandates, and exemptions. The main policy areas are Regulated Industries and Environment.
Who Benefits and How
Environmental and public health interests affected by the bill could face lower compliance burdens.
Who Bears the Burden and How
Federal, state, or local agencies responsible for implementing the clause would take on compliance duties and Public beneficiaries or protected communities affected by the clause could face increased risk.
Key Provisions
- Requires expansion of exception for penalty on early distributions to unemployed individuals from retirement plans Section 72(t)(2) of the Internal Revenue Code of 1986 is amended by adding at the end the following new...
Evidence Chain:
This summary is generated from the full bill text using AI analysis. Expand "Detailed Analysis" below for identified beneficiaries/burden bearers with clause-level evidence links.
At a Glance
What This Bill Does
The bill requires expansion of exception for penalty on early distributions to unemployed individuals from retirement plans Section 72(t)(2) of the Internal Revenue Code of 1986 is amended by adding at the end the following new.
Key Policy Areas
Regulated Industries, Environment
Primary Purpose
The bill requires expansion of exception for penalty on early distributions to unemployed individuals from retirement plans Section 72(t)(2) of the Internal Revenue Code of 1986 is amended by adding at the end the following new.
Policy Domains
Whole bill
Identified Gains
- Environmental and public health interests affected by the bill
Identified Costs
- Federal, state, or local agencies responsible for implementing the clause
- Public beneficiaries or protected communities affected by the clause
Sponsors
Legislative Progress
IntroducedMrs. Watson Coleman (for herself and Ms. Norton) introduced the …
Impact analysis is available but no clear stakeholder effects identified. View clause-level analysis →
Bill Structure & Actor Mappings
Who is "The Secretary" in each section?
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