I 

118TH CONGRESS 

2D SESSION H. R. 10203 

To provide tax relief for damages relating to Hurricanes Helene and Milton. 

IN THE HOUSE OF REPRESENTATIVES 

NOVEMBER 21, 2024 

Mr. BUCHANAN (for himself, Mr. STEUBE, Mr. MURPHY, Mr. FERGUSON, 

Mrs. CHERFILUS-MCCORMICK, Mr. WEBSTER of Florida, Mr. DUNN of 

Florida, Mr. BILIRAKIS, Ms. LEE of Florida, Mrs. LUNA, and Mr. SCOTT

FRANKLIN of Florida) introduced the following bill; which was referred 

to the Committee on Ways and Means 

A BILL 

To provide tax relief for damages relating to Hurricanes 

Helene and Milton. 

1 Be it enacted by the Senate and House of Representa2 tives of the United States of America in Congress assembled, 

3 SECTION 1. SHORT TITLE; TABLE OF CONTENTS. 

4 (a) SHORT TITLE.—This Act may be cited as the 

5 ‘‘Hurricane Helene and Milton Tax Relief Act of 2024’’. 

6 (b) TABLE OF CONTENTS.— 

Sec. 1. Short title; table of contents. 

Sec. 2. Definitions. 

Sec. 3. Earned income credit determined based on preceding taxable year income with respect to qualified hurricane disaster areas. 

Sec. 4. Increased limitation on charitable contributions for disaster relief; certain contributions paid before April 15, 2025, treated as paid 

in 2024. 


ssavage on LAPJG3WLY3PROD with BILLS
2 

•HR 10203 IH

Sec. 5. Hurricane-related personal casualty losses. 

Sec. 6. Special hurricane disaster-related rules for use of retirement funds. 

1 SEC. 2. DEFINITIONS. 

2 For purposes of this Act— 

3 (a) ELIGIBLE INDIVIDUAL.—The term ‘‘eligible indi4 vidual’’ means an individual whose principal place of abode 

5 at any time during the incident period is located in the 

6 qualified hurricane disaster area and who has sustained 

7 an economic loss by reason of Hurricane Helene or Hurri8 cane Milton. 

9 (b) QUALIFIED HURRICANE DISASTER AREA.—The 

10 term ‘‘qualified hurricane disaster area’’ means an area 

11 with respect to which a major disaster has been declared 

12 by the President (before the date of the enactment of this 

13 Act) under section 401 of the Robert T. Stafford Disaster 

14 Relief and Emergency Assistance Act by reason of Hurri15 cane Helene or Hurricane Milton. 

16 (c) INCIDENT PERIOD.—The term ‘‘incident period’’ 

17 means the period beginning on September 28, 2024, and 

18 ending on November 2, 2024. 

19 SEC. 3. EARNED INCOME CREDIT DETERMINED BASED ON 

20 PRECEDING TAXABLE YEAR INCOME WITH 

21 RESPECT TO QUALIFIED HURRICANE DIS22 ASTER AREAS. 

23 (a) IN GENERAL.—In the case of an eligible indi24 vidual, if the earned income of the taxpayer for the appliVerDate Sep 11 2014 18:46 Dec 09, 2024 Jkt 059200 PO 00000 Frm 00002 Fmt 6652 Sfmt 6201 E:\BILLS\H10203.IH H10203

ssavage on LAPJG3WLY3PROD with BILLS
3 

•HR 10203 IH

1 cable taxable year is less than the earned income of the 

2 taxpayer for the preceding taxable year, the credit allowed 

3 under section 32 of the Internal Revenue Code of 1986 

4 for the applicable taxable year may, at the election of the 

5 taxpayer, be determined by substituting— 

6 (1) such earned income for the preceding tax7 able year, for 

8 (2) such earned income for the applicable tax9 able year. 

10 (b) APPLICABLE TAX YEAR.—For purposes of this 

11 section, the term ‘‘applicable taxable year’’ means any tax12 able year which includes any portion of the incident pe13 riod. 

14 (c) EARNED INCOME.—For purposes of this section, 

15 the term ‘‘earned income’’ has the meaning given such 

16 term under section 32(c) of such Code. 

17 (d) SPECIAL RULES.— 

18 (1) APPLICATION TO JOINT RETURNS.—For 

19 purposes of subsection (a), in the case of a joint re20 turn for an applicable taxable year— 

21 (A) such subsection shall apply if either 

22 spouse is an eligible individual, and 

23 (B) the earned income of the taxpayer for 

24 the preceding taxable year shall be the sum of 


ssavage on LAPJG3WLY3PROD with BILLS
4 

•HR 10203 IH

1 the earned income of each spouse for such pre2 ceding taxable year. 

3 (2) ERRORS TREATED AS MATHEMATICAL

4 ERROR.—For purposes of section 6213 of such 

5 Code, an incorrect use on a return of earned income 

6 pursuant to subsection (a) shall be treated as a 

7 mathematical or clerical error. 

8 (3) NO EFFECT ON DETERMINATION OF GROSS

9 INCOME, ETC.—Except as otherwise provided in this 

10 section, such Code shall be applied without regard to 

11 any substitution under subsection (a). 

12 (4) LIMITATION TO SINGLE TAXABLE YEAR.— 

13 No taxpayer may make an election under subsection 

14 (a) if such taxpayer (or in the case of a joint return, 

15 the taxpayer’s spouse) made such an election for any 

16 preceding taxable year. 

17 SEC. 4. INCREASED LIMITATION ON CHARITABLE CON18 TRIBUTIONS FOR QUALIFIED HURRICANE 

19 DISASTER RELIEF; CERTAIN CONTRIBUTIONS 

20 PAID BEFORE APRIL 15, 2025, TREATED AS 

21 PAID IN 2024. 

22 (a) QUALIFIED HURRICANE DISASTER CONTRIBU23 TIONS.— 

24 (1) INDIVIDUALS.—In the case of any qualified 

25 hurricane disaster contribution, notwithstanding secVerDate Sep 11 2014 18:46 Dec 09, 2024 Jkt 059200 PO 00000 Frm 00004 Fmt 6652 Sfmt 6201 E:\BILLS\H10203.IH H10203

ssavage on LAPJG3WLY3PROD with BILLS
5 

•HR 10203 IH

1 tion 170(b) of such Code, the total amount of such 

2 contributions which may be taken into account 

3 under section 170(a) of such Code shall not exceed 

4 the excess of— 

5 (A) the taxpayer’s contribution base, over 

6 (B) the amount of all other charitable con7 tributions allowable under section 170(b)(1) of 

8 such Code. 

9 (2) CARRYOVER.— 

10 (A) IN GENERAL.—If the aggregate 

11 amount of contributions described in paragraph 

12 (1) exceeds the limitation under such para13 graph, such excess shall be treated (in a man14 ner consistent with the rules of subsection 

15 170(d)(1) of such Code) as a charitable con16 tribution to which paragraph (1) applies in each 

17 of the 5 succeeding years in order of time. 

18 (B) COORDINATION WITH DEDUCTION FOR

19 CHARITABLE CONTRIBUTIONS.—For purposes 

20 of applying this paragraph and sections 

21 170(b)(1)(G) and 170(d)(1) of such Code, con22 tributions described in paragraph (1) shall not 

23 be treated as described in subparagraph (A) or 

24 (G) of section 170(b)(1) of such Code and such 


ssavage on LAPJG3WLY3PROD with BILLS
6 

•HR 10203 IH

1 subparagraphs shall be applied without regard 

2 to such contributions. 

3 (3) APPLICATION OF ELECTION TO PARTNER4 SHIPS AND S CORPORATIONS.—In the case of a part5 nership or S corporation, the election under sub6 section (e)(3)(A)(iii) shall be made separately by 

7 each partner or shareholder. 

8 (b) CORPORATIONS.— 

9 (1) IN GENERAL.—In the case of any qualified 

10 hurricane disaster contribution, notwithstanding sec11 tion 170(b) of such Code, the total amount of such 

12 contributions which may be taken into account 

13 under section 170(a) of such Code shall not exceed 

14 the excess of— 

15 (A) 20 percent of the taxpayer’s taxable 

16 income, over 

17 (B) the amount of charitable contributions 

18 allowed under section 170(b)(2)(A) of such 

19 Code. 

20 (2) CARRYOVER.—If the aggregate amount of 

21 contributions described in paragraph (1) exceeds the 

22 limitation under such paragraph, such excess shall 

23 be treated (in a manner consistent with the rules of 

24 section 170(d)(1) of such Code) as a charitable conVerDate Sep 11 2014 18:46 Dec 09, 2024 Jkt 059200 PO 00000 Frm 00006 Fmt 6652 Sfmt 6201 E:\BILLS\H10203.IH H10203

ssavage on LAPJG3WLY3PROD with BILLS
7 

•HR 10203 IH

1 tribution to which paragraph (1) applies in each of 

2 the 5 succeeding years in order of time. 

3 (3) COORDINATION WITH DEDUCTION FOR

4 CHARITABLE CONTRIBUTIONS.—For purposes of ap5 plying this paragraph and sections 170(b)(2) of such 

6 Code, contributions described in paragraph (1) shall 

7 not be treated as described in subparagraph (A), 

8 (B), or (C) of section 170(b)(2) of such Code and 

9 such subparagraphs shall be applied without regard 

10 to such contributions. 

11 (c) DEDUCTION ALLOWED ABOVE THE LINE.—In 

12 the case of an individual— 

13 (1) the standard deduction otherwise deter14 mined under section 63 of such Code shall be in15 creased by so much of the deduction allowed under 

16 section 170 of such Code as would not be so allowed 

17 if determined without regard to this section, and 

18 (2) section 56(b)(1)(D) of such Code shall not 

19 apply to so much of the standard deduction as is at20 tributable to the increase under paragraph (1). 

21 (d) CONTRIBUTIONS TREATED AS MADE IN PRIOR

22 YEAR.—For purposes of this section, a taxpayer may treat 

23 any qualified hurricane disaster contribution which is paid 

24 after December 31, 2024, and on or before April 15, 2025, 


ssavage on LAPJG3WLY3PROD with BILLS
8 

•HR 10203 IH

1 as if such contribution was made on December 31, 2024, 

2 and not in 2025. 

3 (e) DEFINITIONS.—For purposes of this section— 

4 (1) CHARITABLE CONTRIBUTION.—The term 

5 ‘‘charitable contribution’’ has the meaning given 

6 such term in section 170(c) of such Code. 

7 (2) CONTRIBUTION BASE.—The term ‘‘con8 tribution base’’ has the meaning given such term in 

9 section 170(b)(1)(H) of such Code. 

10 (3) QUALIFIED HURRICANE DISASTER CON11 TRIBUTION.— 

12 (A) IN GENERAL.—The term ‘‘qualified 

13 hurricane disaster contribution’’ means any 

14 charitable contribution if— 

15 (i) such contribution— 

16 (I) is paid on or after the first 

17 day of the incident period and before 

18 December 31, 2025, in cash to an or19 ganization described in section 

20 170(b)(1)(A) of such Code, and 

21 (II) is made for relief efforts in a 

22 qualified hurricane disaster area re23 lated to Hurricane Helene or Hurri24 cane Milton, 


ssavage on LAPJG3WLY3PROD with BILLS
9 

•HR 10203 IH

1 (ii) the taxpayer obtains from such or2 ganization contemporaneous written ac3 knowledgment (within the meaning of sec4 tion 170(f)(8) of such Code) that such con5 tribution was used (or is to be used) for 

6 relief efforts in a qualified hurricane dis7 aster area related to Hurricane Helene or 

8 Hurricane Milton, and 

9 (iii) the taxpayer has elected the ap10 plication of this section with respect to 

11 such contribution. 

12 (B) EXCEPTION.—A qualified hurricane 

13 disaster contribution shall not include a con14 tribution by a donor if the contribution is— 

15 (i) to an organization described in sec16 tion 509(a)(3) of such Code, or 

17 (ii) for establishment of a new, or 

18 maintenance of an existing, donor advised 

19 fund (as defined in section 4966(d)(2) of 

20 such Code). 

21 SEC. 5. HURRICANE-RELATED PERSONAL CASUALTY 

22 LOSSES. 

23 (a) IN GENERAL.—If an individual has a net disaster 

24 loss for any taxable year— 


ssavage on LAPJG3WLY3PROD with BILLS
10 

•HR 10203 IH

1 (1) the amount determined under section 

2 165(h)(2)(A)(ii) of the Internal Revenue Code of 

3 1986 shall be equal to the sum of— 

4 (A) such net disaster loss, and 

5 (B) so much of the excess referred to in 

6 the matter preceding clause (i) of section 

7 165(h)(2)(A) of such Code (reduced by the 

8 amount in subparagraph (A) of this paragraph) 

9 as exceeds 10 percent of the adjusted gross in10 come (as defined in section 62 of such Code) of 

11 the individual, 

12 (2) in the case of qualified hurricane disaster13 related personal casualty losses, section 165(h)(1) of 

14 such Code shall be applied to by substituting 

15 ‘‘$500’’ for ‘‘ $500 ($100 for taxable years begin16 ning after December 31, 2009)’’, 

17 (3) the standard deduction determined under 

18 section 63(c) of such Code shall be increased by the 

19 net disaster loss, and 

20 (4) section 56(b)(1)(D) of such Code shall not 

21 apply to so much of the standard deduction as is at22 tributable to the increase under paragraph (3). 

23 (b) NET DISASTER LOSS.—For purposes of this sub24 section, the term ‘‘net disaster loss’’ means the excess of 

25 qualified hurricane disaster-related personal casualty 


ssavage on LAPJG3WLY3PROD with BILLS
11 

•HR 10203 IH

1 losses over personal casualty gains (as defined in section 

2 165(h)(3)(A) of such Code). 

3 (c) QUALIFIED HURRICANE DISASTER-RELATED

4 PERSONAL CASUALTY LOSSES.—For purposes of this sub5 section, the term ‘‘qualified hurricane disaster-related per6 sonal casualty losses’’ means losses described in section 

7 165(c)(3) of such Code which arise in a qualified hurri8 cane disaster area on or after the first day of the incident 

9 period, and which are attributable to Hurricane Helen or 

10 Hurricane Milton. 

11 SEC. 6. SPECIAL HURRICANE DISASTER-RELATED RULES 

12 FOR USE OF RETIREMENT FUNDS. 

13 (a) TAX-FAVORED WITHDRAWALS FROM RETIRE14 MENT PLANS.— 

15 (1) IN GENERAL.—Section 72(t) of the Internal 

16 Revenue Code of 1986 shall not apply to any quali17 fied hurricane disaster distribution. 

18 (2) AGGREGATE DOLLAR LIMITATION.— 

19 (A) IN GENERAL.—For purposes of this 

20 subsection, the aggregate amount of distribu21 tions received by an individual which may be 

22 treated as qualified hurricane disaster distribu23 tions for any taxable year shall not exceed the 

24 excess (if any) of— 

25 (i) $100,000, over 


ssavage on LAPJG3WLY3PROD with BILLS
12 

•HR 10203 IH

1 (ii) the aggregate amounts treated as 

2 qualified hurricane disaster distributions 

3 received by such individual for all prior 

4 taxable years. 

5 (B) TREATMENT OF PLAN DISTRIBU6 TIONS.—If a distribution to an individual would 

7 (without regard to subparagraph (A)) be a 

8 qualified hurricane disaster distribution, a plan 

9 shall not be treated as violating any require10 ment of such Code merely because the plan 

11 treats such distribution as a qualified hurricane 

12 disaster distribution, unless the aggregate 

13 amount of such distributions from all plans 

14 maintained by the employer (and any member 

15 of any controlled group which includes the em16 ployer) to such individual exceeds $100,000. 

17 (C) CONTROLLED GROUP.—For purposes 

18 of subparagraph (B), the term ‘‘controlled 

19 group’’ means any group treated as a single 

20 employer under subsection (b), (c), (m), or (o) 

21 of section 414 of such Code. 

22 (3) AMOUNT DISTRIBUTED MAY BE REPAID.— 

23 (A) IN GENERAL.—Any individual who re24 ceives a qualified hurricane disaster distribution 

25 may, at any time during the 3-year period beVerDate Sep 11 2014 18:46 Dec 09, 2024 Jkt 059200 PO 00000 Frm 00012 Fmt 6652 Sfmt 6201 E:\BILLS\H10203.IH H10203

ssavage on LAPJG3WLY3PROD with BILLS
13 

•HR 10203 IH

1 ginning on the day after the date on which such 

2 distribution was received, make 1 or more con3 tributions in an aggregate amount not to exceed 

4 the amount of such distribution to an eligible 

5 retirement plan of which such individual is a 

6 beneficiary and to which a rollover contribution 

7 of such distribution could be made under sec8 tion 402(c), 403(a)(4), 403(b)(8), 408(d)(3), or 

9 457(e)(16), of such Code, as the case may be. 

10 (B) TREATMENT OF REPAYMENTS OF DIS11 TRIBUTIONS FROM ELIGIBLE RETIREMENT

12 PLANS OTHER THAN IRAS.—For purposes of 

13 such Code, if a contribution is made pursuant 

14 to subparagraph (A) with respect to a qualified 

15 hurricane disaster distribution from an eligible 

16 retirement plan other than an individual retire17 ment plan, then the taxpayer shall, to the ex18 tent of the amount of the contribution, be treat19 ed as having received the qualified hurricane 

20 disaster distribution in an eligible rollover dis21 tribution (as defined in section 402(c)(4) of 

22 such Code) and as having transferred the 

23 amount to the eligible retirement plan in a di24 rect trustee to trustee transfer within 60 days 

25 of the distribution. 


ssavage on LAPJG3WLY3PROD with BILLS
14 

•HR 10203 IH

1 (C) TREATMENT OF REPAYMENTS OF DIS2 TRIBUTIONS FROM IRAS.—For purposes of such 

3 Code, if a contribution is made pursuant to 

4 subparagraph (A) with respect to a qualified 

5 hurricane disaster distribution from an indi6 vidual retirement plan (as defined by section 

7 7701(a)(37) of such Code), then, to the extent 

8 of the amount of the contribution, the qualified 

9 hurricane disaster distribution shall be treated 

10 as a distribution described in section 408(d)(3) 

11 of such Code and as having been transferred to 

12 the eligible retirement plan in a direct trustee 

13 to trustee transfer within 60 days of the dis14 tribution. 

15 (4) DEFINITIONS.—For purposes of this sub16 section— 

17 (A) QUALIFIED HURRICANE DISASTER DIS18 TRIBUTION.—Except as provided in paragraph 

19 (2), the term ‘‘qualified hurricane disaster dis20 tribution’’ means any distribution from an eligi21 ble retirement plan made— 

22 (i) on or after the first day of the in23 cident period and before December 31, 

24 2025, and 

25 (ii) to an eligible individual. 


ssavage on LAPJG3WLY3PROD with BILLS
15 

•HR 10203 IH

1 (B) ELIGIBLE RETIREMENT PLAN.—The 

2 term ‘‘eligible retirement plan’’ shall have the 

3 meaning given such term by section 

4 402(c)(8)(B) of such Code. 

5 (5) INCOME INCLUSION SPREAD OVER 3-YEAR

6 PERIOD.— 

7 (A) IN GENERAL.—In the case of any 

8 qualified hurricane disaster distribution, unless 

9 the taxpayer elects not to have this paragraph 

10 apply for any taxable year, any amount re11 quired to be included in gross income for such 

12 taxable year shall be so included ratably over 

13 the 3-taxable-year period beginning with such 

14 taxable year. 

15 (B) SPECIAL RULE.—For purposes of sub16 paragraph (A), rules similar to the rules of sec17 tion 408A(d)(3)(E) of such Code shall apply. 

18 (6) SPECIAL RULES.— 

19 (A) EXEMPTION OF DISTRIBUTIONS FROM

20 TRUSTEE TO TRUSTEE TRANSFER AND WITH21 HOLDING RULES.—For purposes of sections 

22 401(a)(31), 402(f), and 3405 of such Code, 

23 qualified hurricane disaster distributions shall 

24 not be treated as eligible rollover distributions. 


ssavage on LAPJG3WLY3PROD with BILLS
16 

•HR 10203 IH

1 (B) QUALIFIED HURRICANE DISASTER DIS2 TRIBUTIONS TREATED AS MEETING PLAN DIS3 TRIBUTION REQUIREMENTS.—For purposes of 

4 such Code, a qualified hurricane disaster dis5 tribution shall be treated as meeting the re6 quirements of sections 401(k)(2)(B)(i), 

7 403(b)(7)(A)(i), 403(b)(11), and 457(d)(1)(A) 

8 of such Code and section 8433(h)(1) of title 5, 

9 United States Code, and, in the case of a 

10 money purchase pension plan, a qualified hurri11 cane disaster distribution which is an in-service 

12 withdrawal shall be treated as meeting the dis13 tribution rules of section 401(a) of such Code. 

14 (b) RECONTRIBUTIONS OF WITHDRAWALS FOR

15 HOME PURCHASES.— 

16 (1) RECONTRIBUTIONS.— 

17 (A) IN GENERAL.—Any individual who re18 ceived a qualified distribution may, during the 

19 applicable period, make 1 or more contributions 

20 in an aggregate amount not to exceed the 

21 amount of such qualified distribution to an eli22 gible retirement plan (as defined in section 

23 402(c)(8)(B) of such Code) of which such indi24 vidual is a beneficiary and to which a rollover 

25 contribution of such distribution could be made 


ssavage on LAPJG3WLY3PROD with BILLS
17 

•HR 10203 IH

1 under section 402(c), 403(a)(4), 403(b)(8), or 

2 408(d)(3), of such Code, as the case may be. 

3 (B) TREATMENT OF REPAYMENTS.—Rules 

4 similar to the rules of subparagraphs (B) and 

5 (C) of subsection (a)(3) shall apply for purposes 

6 of this subsection. 

7 (2) QUALIFIED DISTRIBUTION.—For purposes 

8 of this subsection, the term ‘‘qualified distribution’’ 

9 means any distribution— 

10 (A) described in section 

11 401(k)(2)(B)(i)(IV), 403(b)(7)(A)(i)(V), 

12 403(b)(11)(B), or 72(t)(2)(F), of such Code, 

13 (B) which was to be used to purchase or 

14 construct a principal residence in a qualified 

15 hurricane disaster area, but which was not so 

16 used on account of Hurricane Helene or Hurri17 cane Milton, and 

18 (C) which was received during the period 

19 beginning on the date which is 180 days before 

20 the first day of the incident period and ending 

21 on the date which is 30 days after the last day 

22 of such incident period. 

23 (3) APPLICABLE PERIOD.—For purposes of this 

24 subsection, the term ‘‘applicable period’’ means, in 

25 the case of a principal residence in a qualified hurriVerDate Sep 11 2014 18:46 Dec 09, 2024 Jkt 059200 PO 00000 Frm 00017 Fmt 6652 Sfmt 6201 E:\BILLS\H10203.IH H10203

ssavage on LAPJG3WLY3PROD with BILLS
18 

•HR 10203 IH

1 cane disaster area, the period beginning on the first 

2 day of the incident period and ending on December 

3 31, 2025. 

4 (c) LOANS FROM QUALIFIED PLANS.— 

5 (1) INCREASE IN LIMIT ON LOANS NOT TREAT6 ED AS DISTRIBUTIONS.—In the case of any loan 

7 from a qualified employer plan (as defined under 

8 section 72(p)(4) of such Code) to an eligible indi9 vidual made during the period beginning on the date 

10 of the enactment of this Act and ending on June 30, 

11 2024— 

12 (A) section 72(p)(2)(A)(i) of such Code 

13 shall be applied by substituting ‘‘ $100,000’’ for 

14 ‘‘ $50,000’’, and 

15 (B) clause (ii) of such section shall be ap16 plied by substituting ‘‘the present value of the 

17 nonforfeitable accrued benefit of the employee 

18 under the plan’’ for ‘‘one-half of the present 

19 value of the nonforfeitable accrued benefit of 

20 the employee under the plan’’. 

21 (2) DELAY OF REPAYMENT.—In the case of an 

22 eligible individual with an outstanding loan (on or 

23 after the first day of the incident period) from a 

24 qualified employer plan (as defined in section 

25 72(p)(4) of such Code)— 


ssavage on LAPJG3WLY3PROD with BILLS
19 

•HR 10203 IH

1 (A) if the due date pursuant to subpara2 graph (B) or (C) of section 72(p)(2) of such 

3 Code for any repayment with respect to such 

4 loan occurs during the period beginning on the 

5 first day of the incident period and ending on 

6 the date which is 180 days after the last day 

7 of such incident period, such due date shall be 

8 delayed for 1 year (or, if later, until December 

9 31, 2025), 

10 (B) any subsequent repayments with re11 spect to any such loan shall be appropriately 

12 adjusted to reflect the delay in the due date 

13 under subparagraph (A) and any interest accru14 ing during such delay, and 

15 (C) in determining the 5-year period and 

16 the term of a loan under subparagraph (B) or 

17 (C) of section 72(p)(2) of such Code, the period 

18 described in subparagraph (A) of this para19 graph shall be disregarded. 

20 (d) PROVISIONS RELATING TO PLAN AMEND21 MENTS.— 

22 (1) IN GENERAL.—If this subsection applies to 

23 any amendment to any plan or annuity contract, 

24 such plan or contract shall be treated as being operVerDate Sep 11 2014 18:46 Dec 09, 2024 Jkt 059200 PO 00000 Frm 00019 Fmt 6652 Sfmt 6201 E:\BILLS\H10203.IH H10203

ssavage on LAPJG3WLY3PROD with BILLS
20 

•HR 10203 IH

1 ated in accordance with the terms of the plan during 

2 the period described in paragraph (2)(B)(i). 

3 (2) AMENDMENTS TO WHICH SUBSECTION AP4 PLIES.— 

5 (A) IN GENERAL.—This subsection shall 

6 apply to any amendment to any plan or annuity 

7 contract which is made— 

8 (i) pursuant to any provision of this 

9 section, or pursuant to any regulation 

10 issued by the Secretary or the Secretary of 

11 Labor under any provision of this section, 

12 and 

13 (ii) on or before the last day of the 

14 first plan year beginning on or after Janu15 ary 1, 2025, or such later date as the Sec16 retary may prescribe. 

17 In the case of a governmental plan (as defined 

18 in section 414(d) of such Code), clause (ii) shall 

19 be applied by substituting the date which is 2 

20 years after the date otherwise applied under 

21 clause (ii). 

22 (B) CONDITIONS.—This subsection shall 

23 not apply to any amendment unless— 

24 (i) during the period— 


ssavage on LAPJG3WLY3PROD with BILLS
21 

•HR 10203 IH

1 (I) beginning on the date that 

2 this section or the regulation de3 scribed in subparagraph (A)(i) takes 

4 effect (or in the case of a plan or con5 tract amendment not required by this 

6 section or such regulation, the effec7 tive date specified by the plan), and 

8 (II) ending on the date described 

9 in subparagraph (A)(ii) (or, if earlier, 

10 the date the plan or contract amend11 ment is adopted), 

12 the plan or contract is operated as if such plan 

13 or contract amendment were in effect, and 

14 (ii) such plan or contract amendment 

15 applies retroactively for such period. 

Æ 


ssavage on LAPJG3WLY3PROD with BILLS