,,ii #aagth ,,congress #ast ,session ,s4 #ahgj ,,in ,,the ,,senate ,,of ,,the ,,united ,,states ,may #bg1 #bjba,mr4 ,lankford 7for himself and ,mr4 ,bennet7 introduced the following bill2 which was read twice and referred to the ,committee on ,finance ,a ,,bill ,to amend the ,internal ,revenue ,code of #aihf to provide for penalty-free withdrawals from retirement accounts for certain emergency expenses1 and for other purposes4 #a4 ,short title ,this ,act may be cited as the ,enhancing ,emergency and ,retirement ,savings ,act of #bjba4 #b4 ,withdrawals for certain emergency expenses 7a7 ,in general ,paragraph 7#b7 of section #gb7t7 of the ,internal ,revenue ,code of #aihf is amended by adding at the end the following new subparagraph3 7,i7 ,distributions for certain emergency expenses 7i7 ,in general ,any emergency personal expense distribution4 7ii7 ,annual limitation ,not more than #a distribution per calendar year may be treated as an emergency personal expense distribution by any individual4 7iii7 ,dollar limitation ,the amount which may be treated as an emergency personal expense distribution by any individual in any calendar year shall not exceed the lesser of #a1jjj or an amount equal to the excess of-- 7,i7 the individual's total nonforfeitable accrued benefit under the plan 7the individual's total interest in the plan in the case of an individual retirement plan71 determined as of the date of each such distribution1 over 7,,ii7 #a1jjj4 7iv7 ,emergency personal expense distribution ,for purposes of this subparagraph1 the term emergency personal expense distribution means any distribution from an applicable eligible retirement plan 7as defined in subparagraph 7,h77vi77,i77 to an individual for purposes of meeting unforeseeable or immediate financial needs relating to necessary personal or family emergency expenses4 ,the administrator of an applicable eligible retirement plan may rely on an employee's certification that the employee satisfies the conditions of the preceding sentence in determining whether any distribution is an emergency personal expense distribution4 7v7 ,treatment of plan distributions ,if a distribution to an individual would 7without regard to clause 7iii77 be an emergency personal expense distribution1 a plan shall not be treated as failing to meet any requirement of this title merely because the plan treats the distribution as an emergency personal expense 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 employer1 determined as provided in subparagraph 7,h77iv77,,ii77 to such individual exceeds the limitation determined under clause 7iii74 7vi7 ,amount distributed may be repaid 7,i7 ,in general ,any individual who receives an emergency personal expense 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 in an aggregate amount not to exceed the amount of such distribution to an applicable eligible retirement plan of which such individual is a beneficiary and to which a rollover contribution of such distribution could be made under section #djb7;c71 #djc7;a77#d71 #djc7;b77#h71 #djh7;d77#c71 or #deg7;e77#af71 as the case may be4 7,,ii7 ,limitation on contributions to applicable eligible retirement plans other than ,i,r,as ,the aggregate amount of contributions made by an individual under subclause 7,i7 to any applicable eligible retirement plan which is not an individual retirement plan shall not exceed the aggregate amount of emergency personal expense distributions which are made from such plan to such individual4 ,subclause 7,i7 shall not apply to contributions to any applicable eligible retirement plan which is not an individual retirement plan unless the individual is eligible to make contributions 7other than those described in subclause 7,i77 to such applicable eligible retirement plan4 7,,iii7 ,treatment of repayments of distributions from applicable eligible retirement plans other than ,i,r,as ,if a contribution is made under subclause 7,i7 with respect to an emergency personal expense distribution from an applicable eligible retirement plan other than an individual retirement plan1 then the taxpayer shall1 to the extent of the amount of the contribution1 be treated as having received such distribution in an eligible rollover distribution 7as defined in section #djb7;c77#d77 and as having transferred the amount to the applicable eligible retirement plan in a direct trustee to trustee transfer within #fj days of the distribution4 7,,iv7 ,treatment of repayments for distributions from ,i,r,as ,if a contribution is made under subclause 7,i7 with respect to an emergency personal expense distribution from an individual retirement plan1 then1 to the extent of the amount of the contribution1 such distribution shall be treated as a distribution described in section #djh7;d77#c7 and as having been transferred to the applicable eligible retirement plan in a direct trustee to trustee transfer within #fj days of the distribution4 7vii7 ,limitation on subsequent distributions ,if a distribution is treated as an emergency personal expense distribution in any calendar year with respect to a plan1 no amount may be treated as such a distribution in any subsequent calendar year with respect to such plan unless-- 7,i7 such previous distribution is fully repaid pursuant to clause 7vi7 to such plan1 or 7,,ii7 the aggregate of the elective deferrals and employee contributions to the plan 7the total amounts contributed to the plan in the case of an individual retirement plan7 subsequent to such previous distribution is at least equal to the amount of such previous distribution which has not been so repaid4 7viii7 ,special rules ,rules similar to the rules of subclauses 7,,ii7 and 7,,iv7 of subparagraph 7,h77vi7 shall apply to any emergency personal expense distribution4 4 7b7 ,effective date ,the amendments made by this section shall apply to distributions made after ,december #ca1 #bjba4