,i  #aag? ,,congress  #b;d ,session  ,h4
 ,r4 #fgch  ,,9 ,,! ,,h\se ,,(          
,,repres5tatives  ,febru>y #ae1         
#bjbb,mr4 ,k9d 7= himself & ,mr4 ,kelly 
( ,p5nsylvania7 introduc$ ! foll[+ bill2
 :i* 0 ref]r$ to ! ,committee on ,ways &
 ,means  ,a ,,bill  ,to am5d ! ,int]nal 
,rev5ue ,code ( #aihf to provide a      
,,csec employee tax cr$it4  #a4 ,%ort   
title ,?is ,act may be cit$ z !         
,retirem5t ,tax ,cr$it ,p>ity =         
,coop]atives & ,*>ities ,act4  #b4      
,,csec employee tax cr$it  7a7 ,9 g5]al 
,subp>t ,a ( "p ,,iv ( sub*apt] ,a (    
*apt] #a ( ! ,int]nal ,rev5ue ,code (   
#aihf is am5d$ by ins]t+ aft] section   
#be;,d ! foll[+ new section3  #be;,e4   
,,csec employee tax cr$it  7a7 ,all[ance
 ( cr$it ,9 ! case ( an eligible        
individual1 !re %all be all[$ z a cr$it 
aga9/ ! tax impos$ by ?is subtitle = !  
taxable ye> an am\nt equal to #aj p]c5t 
( s mu* ( ! employ] retirem5t sav+s     
contributions made on behalf ( !        
eligible individual = ! plan ye> end+ ) 

or )9 su* taxable ye> z d n exce$       
#a1jjj4  7b7 ,eligible individual ,=    
purposes ( ?is section1 ! t]m eligible  
individual means any individual :o is   
eligible to p>ticipate 9 a ,,csec def9$ 
contribution plan4  7c7 ,employ]        
retirem5t sav+s contributions ,=        
purposes ( ?is section1 ) respect to any
 employee1 ! t]m employ] retirem5t sav+s
 contributions means ! am\nt ( employ]  
contributions 7o!r ?an elective def]rals
 z def9$ 9 section #djb7;g77#c77 made to
 a ,,csec def9$ contribution plan on    
behalf ( su* employee4  7d7 ,,csec def9$
 contribution plan ,= purposes ( ?is    
section1 ! t]m ,,csec def9$ contribution
 plan means a def9$ contribution plan   
:i*-- 7#a7 z ( ,july #bf1 #bjje1 w\ld be
 an eligible coop]ative plan1 z def9$ 9 
section #ajd7;c7 ( ! ,p5sion ,protection
 ,act ( #bjjf1 if su* section appli$ to 
def9$ contribution plans1  7#b7 z (     
,janu>y #a1 #bjba1 0 ma9ta9$ by an      
employ] t also p>ticipat$ 9 an eligible 
coop]ative plan1 z def9$ 9 section      

#ajd7;c7 ( ! ,p5sion ,protection ,act ( 
#bjjf1  7#c7 w\ld be describ$ 9         
subp>agraph 7,b71 7,c71 or 7,d7 (       
section #dad7y77#a7 b = ! fact t x is a 
def9$ contribution plan1 or  7#d7 z (   
,janu>y #a1 #bjba1 0 ma9ta9$ by an      
employ] t also p>ticipat$ 9 a plan      
describ$ 9 subp>agraph 7,b71 7,c71 or   
7,d7 ( section #dad7y77#a74  7e7        
,inflation adju/m5t ,9 ! case ( any     
taxable ye> beg9n+ aft] ,decemb] #ca1   
#bjbb1 ! #a1jjj am\nt 9 subsection 7a7  
%all be increas$ by an am\nt equal to-- 
7#a7 su* doll> am\nt1 multipli$ by  7#b7
 ! co/-(-liv+ adju/m5t det]m9$ "u       
section #a7;f77#c7 = ! cal5d> ye> 9 :i* 
! taxable ye> beg9s1 det]m9$ by         
sub/itut+ cal5d> ye> #bjba = cal5d> ye> 
#bjaf 9 subp>agraph 7,a77ii7 !re(4  ,any
 increase det]m9$ "u ! prec$+ s5t5ce    
%all be r\nd$ to ! ne>e/ multiple ( #ej4
  4  7b7 ,effective date ,! am5dm5t made
 by ?is section %all apply to taxable   
ye>s beg9n+ aft] ,decemb] #ca1 #bjba4