US Congress Senate Bill 1063 (Prior Session Legislation)

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Spectrum: Partisan Bill (Democrat 1-0)
Status: Introduced on May 18 2009 - 25% progression, died in chamber
Action: 2009-05-18 - Read twice and referred to the Committee on Finance.
Text: Latest bill text (Introduced) [PDF]

USEC Privatization Amendments Act of 2009 - Directs the Secretary of Energy to establish a program for paying certain affected participants a one-time lump sum payment. Defines affected participants as persons who retired from active employment at one of the gaseous diffusion plants of the United States Enrichment Corporation (USEC), or are employed by USEC's operating contractor, on or before its privatization date as vested participants in a pension plan maintained either by USEC's operating contractor or by a contractor employed prior to July 1, 1993, by the Department of Energy to operate a gaseous diffusion plant. Prescribes a formula for the determination of such payments, based on the total recoverable amount of accrued pension benefits. Authorizes any affected participant who receives such a payment to make one or more rollover contributions up to the payment amount to a regular (non-Roth) individual retirement account (IRA), which shall be excluded from gross income for tax purposes under the Internal Revenue Code. Includes in gross income any such rollover into a Roth IRA.

USEC Privatization Amendments Act of 2009

Sen. Sherrod Brown [D-OH]

Date	Chamber	Action
2009-05-18		Read twice and referred to the Committee on Finance.

HB4082 (Related) 2009-11-17 - Referred to the Subcommittee on Energy and Environment.

Type	Source
Summary	https://www.congress.gov/bill/111th-congress/senate-bill/1063/all-info
Text	https://www.congress.gov/111/bills/s1063/BILLS-111s1063is.pdf