‘‘(ii) received after February 28, 
2005, and before August 29, 2005, and 
‘‘(iii) which was to be used to pur-
chase or construct a principal residence in 
the Hurricane Katrina disaster area, but 
which was not so purchased or constructed 
on account of Hurricane Katrina. 
‘‘(C) QUALIFIED
RITA
DISTRIBUTION.— 
The term ‘qualified Rita distribution’ means 
any distribution (other than a qualified Katrina 
distribution)— 
‘‘(i) 
described 
in 
section 
401(k)(2)(B)(i)(IV), 403(b)(7)(A)(ii) (but 
only to the extent such distribution relates 
to financial hardship), 403(b)(11)(B), or 
72(t)(2)(F), 
‘‘(ii) received after February 28, 
2005, and before September 24, 2005, and 
‘‘(iii) which was to be used to pur-
chase or construct a principal residence in 
the Hurricane Rita disaster area, but 
which was not so purchased or constructed 
on account of Hurricane Rita. 
‘‘(3) APPLICABLE
PERIOD.—For purposes of 
this subsection, the term ‘applicable period’ means—
‘‘(A) with respect to any qualified Katrina 
distribution, the period beginning on August 
25, 2005, and ending on February 28, 2006, 
and 
‘‘(B) with respect to any qualified Rita dis-
tribution, the period beginning on September 
23, 2005, and ending on February 28, 2006. 
‘‘(c) LOANS FROM QUALIFIED PLANS.— 
‘‘(1) INCREASE IN LIMIT ON LOANS NOT TREAT-
ED
AS
DISTRIBUTIONS.—In the case of any loan 
from a qualified employer plan (as defined under 
section 72(p)(4)) to a qualified individual made dur-
ing the applicable period— 
‘‘(A) clause (i) of section 72(p)(2)(A) shall 
be applied by substituting ‘$100,000’ for 
‘$50,000’, and 
‘‘(B) clause (ii) of such section shall be ap-
plied by substituting ‘the present value of the 
nonforfeitable accrued benefit of the employee 
under the plan’ for ‘one-half of the present 
value of the nonforfeitable accrued benefit of 
the employee under the plan’. 
‘‘(2) DELAY OF REPAYMENT.—In the case of a 
qualified individual with an outstanding loan on or
after the qualified beginning date from a qualified 
employer plan (as defined in section 72(p)(4))— 
‘‘(A) if the due date pursuant to subpara-
graph (B) or (C) of section 72(p)(2) for any re-
payment with respect to such loan occurs dur-
ing the period beginning on the qualified begin-
ning date and ending on December 31, 2006, 
such due date shall be delayed for 1 year, 
‘‘(B) any subsequent repayments with re-
spect to any such loan shall be appropriately 
adjusted to reflect the delay in the due date 
under paragraph (1) and any interest accruing 
during such delay, and 
‘‘(C) in determining the 5-year period and 
the term of a loan under subparagraph (B) or 
(C) of section 72(p)(2), the period described in 
subparagraph (A) shall be disregarded. 
‘‘(3) QUALIFIED INDIVIDUAL.—For purposes of 
this subsection— 
‘‘(A) IN
GENERAL.—The term ‘qualified 
individual’ means any qualified Hurricane 
Katrina individual and any qualified Hurricane 
Rita individual. 
‘‘(B) QUALIFIED HURRICANE KATRINA IN-
DIVIDUAL.—The 
term 
‘qualified 
Hurricane
Katrina individual’ means an individual whose 
principal place of abode on August 28, 2005, is 
located in the Hurricane Katrina disaster area 
and who has sustained an economic loss by rea-
son of Hurricane Katrina. 
‘‘(C) QUALIFIED
HURRICANE
RITA
INDI-
VIDUAL.—The term ‘qualified Hurricane Rita 
individual’ means an individual (other than a 
qualified Hurricane Katrina individual) whose 
principal place of abode on September 23, 
2005, is located in the Hurricane Rita disaster 
area and who has sustained an economic loss by 
reason of Hurricane Rita. 
‘‘(4) APPLICABLE PERIOD; QUALIFIED BEGIN-
NING DATE.—For purposes of this subsection— 
‘‘(A) HURRICANE KATRINA.—In the case 
of any qualified Hurricane Katrina individual— 
‘‘(i) the applicable period is the period 
beginning on September 24, 2005, and 
ending on December 31, 2006, and 
‘‘(ii) the qualified beginning date is 
August 25, 2005. 
‘‘(B) HURRICANE
RITA.—In the case of 
any qualified Hurricane Rita individual—