,,ii  #aah? ,,congress  #a/ ,session    
,s4 #beab  ,,9 ,,! ,,s5ate ,,( ,,!      
,,unit$ ,,/ates  ,july #bf1 #bjbc ,mr4  
,cassidy 7= himself & ,mr4 ,ka9e7       
introduc$ ! foll[+ bill2 :i* 0 read     
twice & ref]r$ to ! ,committee on       
,f9ance  ,a ,,bill  ,to am5d ! ,int]nal 
,rev5ue ,code ( #aihf to provide a cr$it
 = re-enrollm5t provisions 9 retirem5t  
plans ( small employ]s4  #a4 ,retirem5t 
plan re-enrollm5t cr$it = small employ]s
  7a7 ,9 g5]al ,subp>t ,d ( "p ,,iv (   
sub*apt] ,a ( *apt] #a ( ! ,int]nal     
,rev5ue ,code ( #aihf is am5d$ by add+  
at ! end ! foll[+ new section3          
#de;,,bb4 ,cr$it = re-enrollm5t         
provisions 9 plans provid$ by small     
employ]s  7a7 ,9 g5]al ,= purposes (    
section #ch1 9 ! case ( an eligible     
employ]1 ! retirem5t re-enrollm5t cr$it 
det]m9$ "u ?is section = any taxable ye>
 is an am\nt equal to--  7#a7 #ejj = any
 taxable ye> occurr+ dur+ ! cr$it p]iod1
 &  7#b7 z]o = any o!r taxable ye>4  7b7
 ,cr$it p]iod ,= purposes ( subsection  

7a7-- 7#a7 ,9 g5]al ,! cr$it p]iod )    
respect to any eligible employ] is !    
#c-taxable-ye> p]iod beg9n+ ) ! fir/    
taxable ye> = :i* ! employ] includes a  
re-enrollm5t provision 9 an eligible    
automatic contribution arrangem5t "u a  
qualifi$ employ] plan 7z def9$ 9 section
 #digb7;d77 ma9ta9$ by ! employ]4  7#b7 
,ma9t5ance ( arrangem5t ,no taxable ye> 
) respect to an employ] %all be treat$ z
 occurr+ )9 ! cr$it p]iod unless !      
provision describ$ 9 p>agraph 7#a7 is   
includ$ 9 ! plan = su* ye>4  7c7        
,re-,enrollm5t provision ,= purposes (  
?is section--  7#a7 ,9 g5]al ,! t]m     
re-enrollm5t provision means a provision
 ( an eligible automatic contribution   
arrangem5t "u :i* ea* employee eligible 
to p>ticipate 9 ! arrangem5t :o is n    
contribut+ or is contribut+ less ?an !  
p]c5tage applicable to an eligible      
employee 9 ! fir/ ye> ( eligibility is  
treat$ z be+ 9 su* fir/ ye> (           
eligibility 9 ea* applicable ye> )      
respect to ! employee4  7#b7 ,election  

out ,! election treat$ z hav+ be5 made  
"u p>agraph 7#a7 %all cease to apply )  
respect to any employee if su* employee 
makes an affirmative election--  7,a7 n 
to h su* contributions made1 or  7,b7 to
 make elective contributions at a level 
specifi$ 9 su* affirmative election4    
7#c7 ,applicable ye> e ?ird ye>  7,a7 ,9
 g5]al ,! t]m applicable ye> means1 )   
respect to an employee1 su* employee's  
fir/ plan ye> ( eligibility "u !        
arrangem5t & all subsequ5t plan ye>s (  
eligibility4  7,b7 ,exception ,foll[+   
any applicable ye> ( an employee        
7det]m9$ aft] ! application ( ?is       
subp>agraph71 ! plan may elect to treat 
! next #a or #b plan ye>s z n be+       
applicable ye>s ) respect to su*        
employee4  7d7 ,def9itions ,= purposes (
 ?is section-- 7#a7 ,eligible employ] ,!
 t]m eligible employ] has ! mean+ giv5  
su* t]m 9 section #djh7p77#b77;,c77i74  
7#b7 ,eligible automatic contribution   
arrangem5t ,! t]m eligible automatic    
contribution arrangem5t has ! mean+ giv5

 su* t]m 9 section #dad7w77#c74  4  7b7 
,cr$it ,to be "p ( g5]al bus9ess cr$it  
,subsection 7b7 ( section #ch ( !       
,int]nal ,rev5ue ,code ( #aihf is am5d$ 
by /rik+ plus at ! end ( p>agraph 7#dj71
 by /rik+ ! p]iod at ! end ( p>agraph   
7#da7 & ins]t+ 1 plus1 & by add+ at !   
end ! foll[+ new p>agraph3  7#db7 9 !   
case ( an eligible employ] 7z def9$ 9   
section #de;,,bb7d77#a771 ! retirem5t   
re-enrollm5t cr$it det]m9$ "u section   
#de;,,bb7a74  4  7c7 ,treatm5t ( cr$it =
 c]tifi$ pr(essional employ]            
organizations ,p>agraph 7#b7 ( section  
#ceaa7;d7 ( ! ,int]nal ,rev5ue ,code (  
#aihf is am5d$--  7#a7 by r$esignat+    
subp>agraphs 7,g71 7,h71 & 7,i7 z       
subp>agraphs 7,h71 7,i71 & 7,j7         
respectively1 &  7#b7 by ins]t+ aft]    
subp>agraph 7,f7 ! foll[+ new           
subp>agraph3  7,g7 section #de;,,bb     
7retirem5t re-enrollm5t cr$it71  4  7d7 
,cl]ical am5dm5t ,! table ( sections =  
subp>t ,d ( "p ,,iv ( sub*apt] ,a (     
*apt] #a ( ! ,int]nal ,rev5ue ,code (   

#aihf is am5d$ by ins]t+ aft] ! item    
relat+ to section #de;,,aa ! foll[+ new 
item3  ,sec4 #de;,,bb4 ,cr$it =         
re-enrollm5t provisions 9 plans provid$ 
by small employ]s4  4  7e7 ,effective   
date ,! am5dm5ts made by ?is section    
%all apply to taxable ye>s beg9n+ aft]  
,decemb] #ca1 #bjbc4