I
103D CONGRESS
2D SESSION
H. R. 4325
To exclude certain retirement accounts for purposes of determining eligibility
to receive food stamp benefits, aid to families with dependent children,
supplemental security income benefits, and medicaid benefits.
IN THE HOUSE OF REPRESENTATIVES
MAY 3, 1994
Mr. BORSKI introduced the following bill; which was referred jointly to the
Committees on Agriculture and Ways and Means
A BILL
To exclude certain retirement accounts for purposes of deter-
mining eligibility to receive food stamp benefits, aid to
families with dependent children, supplemental security
income benefits, and medicaid benefits.
Be it enacted by the Senate and House of Representa-
tives of the United States of America in Congress assembled,
SECTION 1. EXCLUSION OF CERTAIN RETIREMENT ASSETS
FOR THE PURPOSE OF DETERMINING ELIGI-
BILITY FOR FOOD STAMP BENEFITS.
(a) AMENDMENT.—The first sentence of section
5(g)(2) of the Food Stamp Act of 1977 (7 U.S.C.
2014(g)(2)) is amended—
(1) by striking ‘‘, regardless of whether there is
a penalty for early withdrawal,’’ and inserting
‘‘amounts in’’, and
(2) by inserting before the period at the end the
following:
‘‘excluding any amount in a qualified retirement plan (as
defined in section 4974(c) of the Internal Revenue Code
of 1986) to the extent such amount could not be with-
drawn from such plan without resulting in an increase in
the Federal income tax liability of a family member by
reason of section 72(t) of such Code’’.
(b) APPLICATION OF AMENDMENT.—The amendment
made by subsection (a) shall not apply with respect to cer-
tification periods beginning before the effective date of this
Act.
SEC. lll. DISREGARD OF CERTAIN RETIREMENT ASSETS
IN DETERMINING ELIGIBILITY FOR BENEFITS
UNDER THE PROGRAM OF AID TO FAMILIES
WITH DEPENDENT CHILDREN.
Section 402(a)(7)(B) of the Social Security Act (42
U.S.C. 602(a)(7)(B)) is amended—
(1) by striking ‘‘or’’ at the end of clause (iv);
and
(2) by inserting ‘‘, or (v) any amount in a
qualified retirement plan (as defined in section
4974(c) of the Internal Revenue Code of 1986) to
the extent such amount could not be withdrawn
from such plan without resulting in an increase in
the Federal income tax liability of a family member
by reason of section 72(t) of such Code’’ before the
semicolon.
SEC. lll. DISREGARD OF CERTAIN RETIREMENT ASSETS
IN DETERMINING ELIGIBILITY FOR BENEFITS
UNDER THE SUPPLEMENTAL SECURITY IN-
COME PROGRAM.
Section 1613(a) of the Social Security Act (42 U.S.C.
1382b(a)) is amended—
(1) by striking the period at the end of the first
paragraph (10) and inserting a semicolon;
(2) by redesignating the second paragraph (10)
as paragraph (11);
(3) by striking the period at the end of para-
graph (11) (as so redesignated) and inserting ‘‘;
and’’; and
(4) by inserting after such paragraph (11) the
following:
‘‘(12) any amount in a qualified retirement plan
(as defined in section 4974(c) of the Internal Reve-
nue Code of 1986) to the extent such amount could
not be withdrawn from such plan without resulting
in an increase in the Federal income tax liability of
a family member by reason of section 72(t) of such
Code.’’.
SEC. 4. EFFECTIVE DATE.
Except as otherwise provided in this Act, this Act and
the amendments made by this Act shall take effect 60
days after the date of the enactment of this Act.
Æ