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- S.381
S.381: Retirement Security for Life Act of 2005
About This Bill
- This bill was introduced in the 109th Congress
- This bill is primarily about taxation
- Introduced Feb. 15, 2005
- Latest Major Action Feb. 15, 2005
- See the three similar bills introduced in other congresses.
Bill Sponsor
Bill Cosponsors
8 (4 Democrats, 5 Republicans)
Bill Summary
Retirement Security for Life Act of 2005 - Amends the Internal Revenue Code to allow an exclusion from gross income for 50 percent of the amount otherwise includible in gross income as guaranteed payments from certain annuity or life insurance contracts. Limits the amount of such exclusion to $20,000 in any taxable year. Provides for an inflation adjustment of the $20,000 limitation beginning in 2007.
(Source: Library of Congress)
Bill Actions
Date | Description |
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Sponsor introductory remarks on measure.
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Read twice and referred to the Committee on Finance.
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Feb. 15, 2005 |
Introduced in the Senate by Gordon Harold Smith (R-Ore.) |