HR 2220

112th CONGRESS
1st Session

H. R. 2220

To amend the Internal Revenue Code of 1986 to assist in the recovery and development of the Virgin Islands by providing for a reduction in the tax imposed on distributions from certain retirement plans' assets which are invested for at least 30 years, subject to defined withdrawals, under a Virgin Islands investment program.

IN THE HOUSE OF REPRESENTATIVES

June 16, 2011

Mrs. CHRISTENSEN introduced the following bill; which was referred to the Committee on Ways and Means


A BILL

To amend the Internal Revenue Code of 1986 to assist in the recovery and development of the Virgin Islands by providing for a reduction in the tax imposed on distributions from certain retirement plans' assets which are invested for at least 30 years, subject to defined withdrawals, under a Virgin Islands investment program.

SECTION 1. SHORT TITLE.

SEC. 2. TAX-FREE DISTRIBUTIONS FROM CERTAIN RETIREMENT PLAN ASSETS INVESTED UNDER A VIRGIN ISLANDS INVESTMENT PROGRAM.

`SEC. 409B. TREATMENT OF DISTRIBUTIONS FROM CERTAIN RETIREMENT PLAN ASSETS INVESTED UNDER A VIRGIN ISLANDS INVESTMENT PROGRAM.

END