,,ii  #aad? ,,congress  #b;d ,session   
,s4 #cceh  ,,9 ,,! ,,s5ate ,,( ,,!      
,,unit$ ,,/ates  ,septemb] #bj1 #bjaf   
,mr4 ,cassidy 7= himself & ,mr4 ,vitt]7 
introduc$ ! foll[+ bill2 :i* 0 read     
twice & ref]r$ to ! ,committee on       
,f9ance  ,a ,,bill  ,to provide special 
rules = ! use ( retirem5t funds = relief
 relat+ to sev]e flood+ 9 ! ,mississippi
 ,delta4  #a4 ,%ort title  ,?is ,act may
 be cit$ z ! ,flood ,em]g5cy ,tax       
,relief ,act ( #bjaf 7,,fletra74  #b4   
,special rules = use ( retirem5t funds )
 respect to ,mississippi ,delta areas   
damag$ by #bjaf flood+  7a7 ,tax-,favor$
 ,)drawals ,f ,retirem5t ,plans  7#a7 ,9
 g5]al ,section #gb7t7 ( ! ,int]nal     
,rev5ue ,code ( #aihf %all n apply to   
any qualifi$ ,mississippi ,riv] ,delta  
flood+ di/ribution4  7#b7 ,aggregate    
doll> limitation  7,a7 ,9 g5]al ,=      
purposes ( ?is subsection1 ! aggregate  
am\nt ( di/ributions receiv$ by an      
individual :i* may be treat$ z qualifi$ 
,mississippi ,riv] ,delta flood+        

di/ributions = any taxable ye> %all n   
exce$ ! excess 7if any7 (--  7i7        
#ajj1jjj1 ov]  7ii7 ! aggregate am\nts  
treat$ z qualifi$ ,mississippi ,riv]    
,delta flood+ di/ributions receiv$ by   
su* individual = all prior taxable ye>s4
  7,b7 ,treatm5t ( plan di/ributions ,if
 a di/ribution to an individual w\ld    
7)\t reg>d to subp>agraph 7,a77 be a    
qualifi$ ,mississippi ,riv] ,delta      
flood+ di/ribution1 a plan %all n be    
treat$ z violat+ any requirem5t ( ?is   
title m]ely because ! plan treats su*   
di/ribution z a qualifi$ ,mississippi   
,riv] ,delta flood+ di/ribution1 unless 
! aggregate am\nt ( su* di/ributions f  
all plans ma9ta9$ by ! employ] 7& any   
memb] ( any controll$ gr\p :i* includes 
! employ]7 to su* individual exce$s     
#ajj1jjj4  7,c7 ,controll$ gr\p ,=      
purposes ( subp>agraph 7,b71 ! t]m      
controll$ gr\p means any gr\p treat$ z a
 s+le employ] "u subsection 7b71 7c71   
7m71 or 7o7 ( section #dad ( ! ,int]nal 
,rev5ue ,code ( #aihf4  7#c7 ,am\nt     

di/ribut$ may be repaid  7,a7 ,9 g5]al  
,any individual :o receives a qualifi$  
,mississippi ,riv] ,delta flood+        
di/ribution may1 at any "t dur+ ! #c-ye>
 p]iod beg9n+ on ! day aft] ! date on   
:i* su* di/ribution 0 receiv$1 make "o  
or m contributions 9 an aggregate am\nt 
n to exce$ ! am\nt ( su* di/ribution to 
an eligible retirem5t plan ( :i* su*    
individual is a b5efici>y & to :i* a    
rollov] contribution ( su* di/ribution  
c\ld be made "u section #djb7;c71       
#djc7;a77#d71 #djc7;b77#h71             
#djh7;d77#c71 or #deg7;e77#af7 ( !      
,int]nal ,rev5ue ,code ( #aihf1 z ! case
 may be4  7,b7 ,treatm5t ( repaym5ts (  
di/ributions f eligible retirem5t plans 
o!r ?an iras ,= purposes ( ?is title1 if
 a contribution is made pursuant to     
subp>agraph 7,a7 ) respect to a qualifi$
 ,mississippi ,riv] ,delta flood+       
di/ribution f an eligible retirem5t plan
 o!r ?an an individual retirem5t plan1  
!n ! taxpay] %all1 to ! ext5t ( ! am\nt 
( ! contribution1 be treat$ z hav+      

receiv$ ! qualifi$ ,mississippi ,riv]   
,delta flood+ di/ribution 9 an eligible 
rollov] di/ribution 7z def9$ 9 section  
#djb7;c77#d7 ( ! ,int]nal ,rev5ue ,code 
( #aihf7 & z hav+ transf]r$ ! am\nt to !
 eligible retirem5t plan 9 a direct     
tru/ee to tru/ee transf] )9 #fj days ( !
 di/ribution4  7,c7 ,treatm5t (         
repaym5ts = di/ributions f iras ,=      
purposes ( ?is title1 if a contribution 
is made pursuant to subp>agraph 7,a7 )  
respect to a qualifi$ ,mississippi ,riv]
 ,delta flood+ di/ribution f an         
individual retirem5t plan 7z def9$ by   
section #ggja7;a77#cg7 ( ! ,int]nal     
,rev5ue ,code ( #aihf71 !n1 to ! ext5t (
 ! am\nt ( ! contribution1 ! qualifi$   
,mississippi ,riv] ,delta flood+        
di/ribution %all be treat$ z a          
di/ribution describ$ 9 section          
#djh7;d77#c7 ( su* ,code & z hav+ be5   
transf]r$ to ! eligible retirem5t plan 9
 a direct tru/ee to tru/ee transf] )9   
#fj days ( ! di/ribution4  7#d7         
,def9itions ,= purposes ( ?is           

subsection-- 7,a7 ,qualifi$ ,mississippi
 ,riv] ,delta flood+ di/ribution ,except
 z provid$ 9 p>agraph 7#b71 ! t]m       
qualifi$ ,mississippi ,riv] ,delta      
flood+ di/ribution means any di/ribution
 f an eligible retirem5t plan made on or
 aft] ,augu/ #aa1 #bjaf1 & be=e ,janu>y 
#a1 #bjah1 to an individual ^: pr9cipal 
place ( abode on ,augu/ #aa1 #bjaf1 is  
locat$ 9 ! ,mississippi ,riv] ,delta    
disa/] area & :o has su/a9$ an economic 
loss by reason ( ! sev]e /orms & flood+ 
giv+ rise to ! ,presid5tial decl>ation  
describ$ 9 subsection 7c74  7,b7        
,eligible retirem5t plan ,! t]m eligible
 retirem5t plan %all h ! mean+ giv5 su* 
t]m by section #djb7;c77#h77;,b7 ( !    
,int]nal ,rev5ue ,code ( #aihf4  7#e7   
,income inclusion spread ov] #c-ye>     
p]iod  7,a7 ,9 g5]al ,9 ! case ( any    
qualifi$ ,mississippi ,riv] ,delta      
flood+ di/ribution1 unless ! taxpay]    
elects n to h ?is p>agraph apply = any  
taxable ye>1 any am\nt requir$ to be    
includ$ 9 gross income = su* taxable ye>

 %all be s includ$ ratably ov] !        
#c-taxable-ye> p]iod beg9n+ ) su*       
taxable ye>4  7,b7 ,special rule ,=     
purposes ( subp>agraph 7,a71 rules      
simil> to ! rules ( subp>agraph 7,e7 (  
section #djh;,a7d77#c7 ( ! ,int]nal     
,rev5ue ,code ( #aihf %all apply4  7#f7 
,special rules  7,a7 ,exemption (       
di/ributions f tru/ee to tru/ee transf] 
& )hold+ rules ,= purposes ( sections   
#dja7;a77#ca71 #djb7;f71 & #cdje ( !    
,int]nal ,rev5ue ,code ( #aihf1 qualifi$
 ,mississippi ,riv] ,delta flood+       
di/ributions %all n be treat$ z eligible
 rollov] di/ributions4  7,b7 ,qualifi$  
,mississippi ,riv] ,delta flood+        
di/ributions treat$ z meet+ plan        
di/ribution requirem5ts ,= purposes (   
?is title1 a qualifi$ ,mississippi ,riv]
 ,delta flood+ di/ribution %all be      
treat$ z meet+ ! requirem5ts ( sections 
#dja7k77#b77;,b77i71                    
#djc7;b77#g77;,a77ii71 #djc7;b77#aa71 & 
#deg7;d77#a77;,a7 ( ! ,int]nal ,rev5ue  
,code ( #aihf4  7b7 ,provisions ,relat+ 

to ,plan ,am5dm5ts  7#a7 ,9 g5]al ,if   
?is subsection applies to any am5dm5t to
 any plan or annuity contract1 su* plan 
or contract %all be treat$ z be+ op]at$ 
9 accordance ) ! t]ms ( ! plan dur+ !   
p]iod describ$ 9 p>agraph 7#b77;,b77i74 
7#b7 ,am5dm5ts to :i* subsection applies
  7,a7 ,9 g5]al ,?is subsection %all    
apply to any am5dm5t to any plan or     
annuity contract :i* is made-- 7i7      
pursuant to any provision ( ?is section1
 or pursuant to any regulation issu$ by 
! ,secret>y or ! ,secret>y ( ,labor "u  
any provision ( ?is section2 &  7ii7 on 
or be=e ! la/ day ( ! fir/ plan ye>     
beg9n+ on or aft] ,janu>y #a1 #bjah1 or 
su* lat] date z ! ,secret>y may         
prescribe4  ,9 ! case ( a gov]nm5tal    
plan 7z def9$ 9 section #dad7;d7 ( !    
,int]nal ,rev5ue ,code ( #aihf71 clause 
7ii7 %all be appli$ by sub/itut+ ! date 
:i* is #b ye>s aft] ! date o!rwise      
appli$ "u clause 7ii74  7,b7 ,conditions
 ,?is subsection %all n apply to any    
am5dm5t unless-- 7i7 dur+ ! p]iod--     

7,i7 beg9n+ on ! date t ?is section or !
 regulation describ$ 9 subp>agraph      
7,a77i7 takes effect 7or 9 ! case ( a   
plan or contract am5dm5t n requir$ by   
?is section or su* regulation1 !        
effective date specifi$ by ! plan72 &   
7,,ii7 end+ on ! date describ$ 9        
subp>agraph 7,a77ii7 7or1 if e>li]1 !   
date ! plan or contract am5dm5t is      
adopt$71  ! plan or contract is op]at$ z
 if su* plan or contract am5dm5t 7 9    
effect2 &  7ii7 su* plan or contract    
am5dm5t applies retroactively = su*     
p]iod4  7c7 ,mississippi ,riv] ,delta   
flood disa/] area ,= purposes ( ?is     
section1 ! t]m ,mississippi ,riv] ,delta
 flood disa/] area means ! area )       
respect to :i* a major disa/] has be5   
decl>$ by ! ,presid5t "u section #dja ( 
! ,rob]t ,t4 ,/af=d ,disa/] ,relief &   
,em]g5cy ,assi/ance ,act by reason (    
sev]e /orms or flood+ occurr+ 9 ! ,/ate 
( ,l\isiana on or aft] ,augu/ #aa1      
#bjaf1 & be=e ,septemb] #a1 #bjaf4