Providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Internal Revenue Service relating to "Required Minimum Distributions".

Bill: 118-hjres-206
Sponsor: full_name: Rep. Palmer, Gary J. [R-AL-6]
Introduced: 2024-09-19
Policy area: Taxation
Latest action: action_date: 2024-09-19
text: Referred to the House Committee on Ways and Means.

Summaries:
action_date: 2024-09-19
action_desc: Introduced in House
text: <p>This joint resolution nullifies the rule titled <em>Required Minimum Distributions</em>, which was issued by the Internal Revenue Service on July 19, 2024. The rule updates the requirements related to minimum distributions from a qualified plan to reflect statutory changes made by the Setting Every Community Up for Retirement Enhancement Act of 2019 and SECURE 2.0 Act of 2022. The rule, among other things, increases the required minimum distribution age from 72 to 75 in two steps over a 10-year period and requires all distributions to be made by the end of the 10th year after death (with some exceptions).&nbsp;</p><!--tinycomments|2.1|data:application/json;base64,eyJtY2UtY29udmVyc2F0aW9uXzUwNTUxODU2NTgxNzMwNzYzNjY3MzEyIjp7InVpZCI6Im1jZS1jb252ZXJzYXRpb25fNTA1NTE4NTY1ODE3MzA3NjM2NjczMTIiLCJjb21tZW50cyI6W3sidWlkIjoibWNlLWNvbnZlcnNhdGlvbl81MDU1MTg1NjU4MTczMDc2MzY2NzMxMiIsImF1dGhvciI6InNzdWJyYW1hbmlhbUBsaWIubG9jLmdvdiIsImF1dGhvck5hbWUiOiJzc3VicmFtYW5pYW1AbGliLmxvYy5nb3YiLCJjb250ZW50IjoiSXRhbGljaXplZCBuYW1lIG9mIHJ1bGUiLCJjcmVhdGVkQXQiOiIyMDI0LTExLTA0VDIzOjQxOjA3LjMxMloiLCJtb2RpZmllZEF0IjoiMjAyNC0xMS0wNFQyMzo0MTowNy4zMTJaIn1dfX0=-->

tv_txt: IA 118th CONGRESS 2d Session H. J. RES. 206 IN THE HOUSE OF REPRESENTATIVES September 19, 2024 Mr. Palmer submitted the following joint resolution; which was referred to the Committee on Ways and Means JOINT RESOLUTION Providing for congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Internal Revenue Service relating to Required Minimum Distributions .

That Congress disapproves the rule submitted by the Internal Revenue Service relating to Required Minimum Distributions (89 Fed. Reg. 58886 (July 19, 2024)), and such rule shall have no force or effect.