S. 1183 — A bill to amend the Internal Revenue Code of 1954 to allow penalty-free withdrawals from individual retirement accounts for certain institutional care expenses.

Summary

Amends the Internal Revenue Code to allow penalty-free withdrawals from individual retirement accounts used to pay expenses for: (1) care at a skilled nursing facility; (2) care at an intermediate care facility; and (3) any other licensed long-term care facility which provides nursing or custodial care.

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Legislative Actions

1985-05-21
Introduced in Senate
1985-05-21
Read twice and referred to the Committee on Finance.
1985-05-29
Committee on Finance requested executive comment from OMB, Treasury Department, Health and Human Services Department.

A bill to amend the Internal Revenue Code of 1954 to allow penalty-free withdrawals from individual retirement accounts for certain institutional care expenses.

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Summary

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