H.R. 3898 — Capital Construction Fund Qualified Withdrawal Act of 2002 | PoliFocus

H.R. 3898107th Congress

Capital Construction Fund Qualified Withdrawal Act of 2002

To provide for qualified withdrawals from the Capital Construction Fund for fishermen leaving the industry and for the rollover of Capital Construction Funds to individual retirement plans.

Subjects

Taxation

Summary

Capital Construction Fund Qualified Withdrawal Act of 2002 - Amends the Merchant Marine Act and the Internal Revenue Code to permit as qualified withdrawals from fishing capital construction funds money used by retiring fishermen for the following purposes: (1) retiring an owner's commercial fishing vessels and related commercial fishing permits; (2) making a rollover contribution into an owner's individual retirement plan; and (3) making a payment of an industry fee authorized by the fishing capacity reduction program.

Full Text

Related Legislation

S. 1962Capital Construction Fund Qualified Withdrawal Act of 2002
2002-02-15Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S908)
Related

Legislative Actions

2002-03-07
Introduced in House
2002-03-07
Introduced in House
2002-03-07
Referred to the Committee on Ways and Means, and in addition to the Committee on Armed Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
2002-03-07
Referred to the Committee on Ways and Means, and in addition to the Committee on Armed Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
2002-03-07
Referred to the Committee on Ways and Means, and in addition to the Committee on Armed Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
2002-04-05
Executive Comment Requested from Maritime Administration.

Ask about this bill

checking server…

Ask anything about this bill. The AI reads the full text to answer.

Enter to send · Shift+Enter for new line