retirement plan (as defined by section 
7701(a)(37)), then, to the extent of 
the amount of the contribution, the 
Hurricane Sandy distribution shall be 
treated as a distribution described in 
section 408(d)(3) and as having been 
transferred to the eligible retirement 
plan in a direct trustee to trustee 
transfer within 60 days of the dis-
tribution. 
‘‘(iv) INCOME
INCLUSION
SPREAD 
OVER 3-YEAR PERIOD.— 
‘‘(I) IN GENERAL.—In the case 
of any Hurricane Sandy distribution, 
unless the taxpayer elects not to have 
this clause apply for any taxable year, 
any amount required to be included in 
gross income for such taxable year 
shall be so included ratably over the 
3-taxable year period beginning with 
such taxable year. 
‘‘(II) SPECIAL RULE.—For pur-
poses of subclause (I), rules similar to 
the rules of subparagraph (E) of sec-
tion 408A(d)(3) shall apply. 
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‘‘(v) SPECIAL RULES.— 
‘‘(I) EXEMPTION
OF
DISTRIBU-
TIONS
FROM
TRUSTEE
TO
TRUSTEE 
TRANSFER
AND
WITHHOLDING 
RULES.—For purposes of sections 
401(a)(31), 402(f), and 3405, Hurri-
cane Sandy distributions shall not be 
treated as eligible rollover distribu-
tions. 
‘‘(II) HURRICANE
SANDY
DIS-
TRIBUTIONS
TREATED
AS
MEETING 
PLAN
DISTRIBUTION
REQUIRE-
MENTS.—For purposes this title, a 
Hurricane Sandy distribution shall be 
treated as meeting the requirements 
of 
sections 
401(k)(2)(B)(i), 
403(b)(7)(A)(ii), 
403(b)(11), 
and 
457(d)(1)(A). 
‘‘(B) 
RECONTRIBUTIONS
OF
WITH-
DRAWALS FOR HOME PURCHASES.— 
‘‘(i) IN
GENERAL.—Any individual 
who received a distribution described in 
clause (ii) may, during the applicable pe-
riod, make one or more contributions in an 
aggregate amount not to exceed the 
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amount of such distribution to an eligible 
retirement plan (as defined in section 
402(c)(8)(B)) of which such individual is a 
beneficiary and to which a rollover con-
tribution of such distribution could be 
made under section 402(c), 403(a)(4), 
403(b)(8), or 408(d)(3), as the case may 
be. 
‘‘(ii) DISTRIBUTION DESCRIBED.—For 
purposes of clause (i), a distribution is de-
scribed in this clause if the distribution— 
‘‘(I) is described in paragraph 
(2)(F) or section 401(k)(2)(B)(i)(IV), 
403(b)(7)(A)(ii) (but only to the ex-
tent such distribution relates to finan-
cial hardship), or 403(b)(11)(B), 
‘‘(II) is received after April 29, 
2012, and before October 30, 2012, 
and 
‘‘(III) was to be used to purchase 
or construct a principal residence in 
the Hurricane Sandy disaster area (as 
defined in section 165(h)(3)(D)), but 
which was not so purchased or con-
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structed on account of Hurricane 
Sandy. 
‘‘(iii) APPLICABLE PERIOD.—For pur-
poses of this subparagraph, the term ‘ap-
plicable period’ means the period beginning 
on October 29, 2012, and ending five 
months after the date of enactment of the 
Hurricane Sandy Tax Relief Act of 2012. 
‘‘(iv) TREATMENT OF REPAYMENTS.— 
Rules similar to the rules of subclauses 
(II) and (III) of subparagraph (A)(iii) 
shall apply for purposes of this subpara-
graph.’’. 
(c) LOANS FROM QUALIFIED PLANS.—Subsection 
(p) of section 72 is amended by adding at the end the 
following: 
‘‘(6) SPECIAL RULES RELATING TO HURRICANE 
SANDY.— 
‘‘(A) INCREASE IN LIMIT ON LOANS NOT 
TREATED AS DISTRIBUTIONS.—In the case of 
any loan from a qualified employer plan to a 
qualified individual made during the applicable 
period— 
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‘‘(i) paragraph (2)(A)(i) shall be ap-
plied 
by 
substituting 
‘$100,000’ 
for 
‘$50,000’, and 
‘‘(ii) paragraph (2)(A)(ii) 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 ac-
crued benefit of the employee under the 
plan’. 
‘‘(B) 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— 
‘‘(i) if the due date pursuant to sub-
paragraph (B) or (C) of paragraph (2) for 
any repayment with respect to such loan 
occurs during the period beginning on the 
qualified beginning date and ending on De-
cember 31, 2013, such due date shall be 
delayed for 1 year, 
‘‘(ii) any subsequent repayments with 
respect to any such loan shall be appro-
priately adjusted to reflect the delay in the 
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due date under clause (i) and any interest 
accruing during such delay, and 
‘‘(iii) in determining the 5-year period 
and the term of a loan under subpara-
graph (B) or (C) of paragraph (2), the pe-
riod described in clause (i) shall be dis-
regarded. 
‘‘(C) QUALIFIED
INDIVIDUAL.—For pur-
poses of this paragraph— 
‘‘(i) IN GENERAL.—The term ‘quali-
fied individual’ means any qualified Hurri-
cane Sandy individual. 
‘‘(ii) QUALIFIED
HURRICANE
SANDY 
INDIVIDUAL.—The term ‘qualified Hurri-
cane Sandy individual’ means an individual 
whose principal place of abode on October 
29, 2012, is located in the Hurricane 
Sandy disaster area (as defined in section 
165(h)(3)(D)) and who has sustained an 
economic loss by reason of Hurricane 
Sandy. 
‘‘(D) OTHER DEFINITIONS.—For purposes 
of this paragraph— 
‘‘(i) APPLICABLE PERIOD.—The appli-
cable period is the period beginning on the 
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