A bill to amend the Internal Revenue Code of 1954 to permit individual retirement accounts and individually-directed accounts to acquire and dispose of tangible investment assets in transactions with persons other than interested persons.

Amends the Internal Revenue Code to revise the restrictions on investments in tangible investment assets by individual retirement accounts and individually directed accounts. Allows such investments except for: (1) the acquisition of a tangible investment asset from the individual (or his beneficiaries) for whose benefit the account was created; or (2) the transfer (by distribution or otherwise) of a tangible investment asset from an account to the individual (or his beneficiaries) for whose benefit the account has been created.