A bill to amend the Internal Revenue Code of 1986 to encourage individuals to save through individual retirement accounts, and for other purposes.
Individual Retirement Account Equity and Enhancement Act of 1994 - Amends the Internal Revenue Code to allow certain spouses a deduction for contributions to an individual retirement account.
Allows distribution from certain retirement plans without penalty to purchase first homes, pay higher education expenses and qualified long-term care expenses, and assist certain unemployed individuals.
Introduced in Senate
Sponsor introductory remarks on measure. (CR S13712)
Read twice and referred to the Committee on Finance.
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