,i  #aacth ,,congress  #b;d ,session    
,h4 ,r4 #ddjc  ,,in ,,the ,,house ,,of  
,,representatives  ,april #d1 #bjad ,ms4
 ,clarke of ,new ,york 7for herself1    
,mr4 ,rangel1 ,mr4 ,grimm1 ,mrs4        
,mc,carthy of ,new ,york1 and ,mr4      
,richmond7 introduced the following     
bill2 which was referred to the         
,committee on ,ways and ,means  ,a      
,,bill  ,to amend the ,internal ,revenue
 ,code of #aihf to waive the #aj-percent
 penalty on qualified natural disaster  
distributions from qualified retirement 
plans4  #a4 ,short title ,this ,act may 
be cited as the ,homeowner ,disaster    
,relief ,act of #bjad4  #b4 ,waiver of  
#aj-percent penalty on qualified natural
 disaster distributions from qualified  
retirement plans  7a7 ,in general       
,section #gb7t77#b7 of the ,internal    
,revenue ,code of #aihf is amended by   
adding at the end the following new     
subparagraph3  7,h7 ,qualified natural  
disaster distributions  7i7 ,in general 
,any qualified natural disaster         

distribution4  7ii7 ,cross reference    
,for definitions and rules related to   
qualified natural disaster              
distributions1 see paragraph 7#aa74  4  
7b7 ,definitions and special rules      
,section #gb7t7 of such ,code is amended
 by adding at the end the following new 
paragraph3  7#aa7 ,qualified natural    
disaster distributions  7,a7 ,in general
 ,except as provided in subparagraph    
7,b71 the term qualified natural        
disaster distribution means any         
distribution from an individual         
retirement plan1 or from amounts        
attributable to employer contributions  
made pursuant to elective deferrals     
described in subparagraph 7,a7 or 7,c7  
of section #djb7;g77#c7 or section      
#eja7;c77#ah77;,d77iii71 to an          
individual if--  7i7 such individual    
sustained an economic loss by reason of 
a federally declared disaster1  7ii7 the
 principal place of abode of such       
individual on the disaster declaration  
date is in the disaster area1 and  7iii7

 such distribution is made during the   
#a-year period beginning on the disaster
 declaration date4  7,b7 ,aggregate     
dollar limitation  7i7 ,in general ,the 
aggregate amount of distributions       
received by an individual which may be  
treated as qualified natural disaster   
distributions for any taxable year with 
respect to any federally declared       
disaster shall not exceed the excess 7if
 any7 of--  7,i7 #ajj1jjj1 over  7,,ii7 
the aggregate amounts treated as        
qualified natural disaster distributions
 with respect to such federally declared
 disaster received by such individual   
for all prior taxable years4  7ii7      
,treatment of plan distributions ,if a  
distribution to an individual would     
7without regard to clause 7i77 be a     
qualified natural disaster distribution1
 a plan shall not be treated as         
violating any requirement of this title 
merely because the plan treats such     
distribution as a qualified natural     
disaster distribution1 unless the       

aggregate amount of such distributions  
from all plans maintained by the        
employer 7and any member of any         
controlled group which includes the     
employer7 to such individual exceeds    
#ajj1jjj4  7iii7 ,controlled group ,for 
purposes of clause 7ii71 the term       
controlled group means any group treated
 as a single employer under subsection  
7b71 7c71 7m71 or 7o7 of section #dad4  
7,c7 ,amount distributed may be repaid  
,any individual who receives a qualified
 natural disaster distribution may1 at  
any time during the #c-year period      
beginning on the day after the date on  
which such distribution was received1   
make one or more contributions to an    
individual retirement plan of such      
individual in an aggregate amount not to
 exceed the amount of such distribution4
 ,the dollar limitations otherwise      
applicable to contributions to          
individual retirement plans shall not   
apply to any contribution made pursuant 
to the preceding sentence4 ,no deduction

 shall be allowed for any contribution  
pursuant to this subparagraph4  7,d7    
,federally declared disaster ,for       
purposes of this paragraph--  7i7 ,in   
general ,the term federally declared    
disaster means any disaster subsequently
 determined by the ,president of the    
,united ,states to warrant assistance by
 the ,federal ,government under the     
,robert ,t4 ,stafford ,disaster ,relief 
and ,emergency ,assistance ,act4  7ii7  
,disaster area ,the term disaster area  
means the area so determined to warrant 
such assistance4  7iii7 ,disaster       
declaration date ,the term disaster     
declaration date means the date of such 
determination4  4  7c7 ,effective date  
,the amendments made by this section    
shall apply to distributions made after 
the date of the enactment of this ,act4