118th Congress Taxation
H.J.Res. 206: Disapproval of Internal Revenue Service rule: Required Minimum Distributions
Providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Internal Revenue Service relating to "Required Minimum Distributions".
Introduced
- Introduced (completed)
- Passed House (not reached)
- Passed Senate (not reached)
- To the President (not reached)
- Became law (not reached)
Summary
This joint resolution nullifies the rule titled Required Minimum Distributions, which was issued by the Internal Revenue Service on July 19, 2024. The rule updates the requirements related to minimum distributions from a qualified plan to reflect statutory changes made by the Setting Every Community Up for Retirement Enhancement Act of 2019 and SECURE 2.0 Act of 2022. The rule, among other things, increases the required minimum distribution age from 72 to 75 in two steps over a 10-year period and requires all distributions to be made by the end of the 10th year after death (with some exceptions).
Written by the Congressional Research Service, Library of Congress.
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Other bills by Gary Palmer
History
- Introduced in the House by Gary Palmer.
Show the full action history (2 actions)
- Introduced in House
- Referred to the House Committee on Ways and Means.