[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"current-user-roles":3,"user-subscription":3,"bill:119-hr-329":4},null,{"bill":5,"indexable":171,"summaries":172,"cosponsors":178,"cosponsorSlugs":195,"actions":199,"amendments":218,"amendmentSponsorSlugs":219,"linkages":220,"sponsorSlug":221},{"statusDate":6,"sponsor":7,"updateDate":15,"cboCostEstimates":16,"originChamber":17,"congress":18,"isByRequest":19,"title":20,"createdAt":21,"committeeReports":22,"cosponsorCount":23,"onBehalfOfSponsor":3,"adminOverride":3,"amendmentCount":24,"actionCount":23,"popularTitle":3,"laws":3,"billType":25,"introducedDate":6,"committees":26,"congressGovUrl":27,"constitutionalAuthority":28,"policyArea":29,"deletedAt":3,"latestAction":30,"billNumber":32,"cosponsorCountIncludingWithdrawn":23,"status":33,"shortTitle":20,"officialTitle":34,"keyMilestoneCount":35,"subjects":36,"updatedAt":42,"policyAreaLower":43,"searchTokens":44,"committeeCodes":170},"2025-01-09",{"firstName":8,"lastName":9,"district":10,"fullName":11,"state":12,"party":13,"bioguideId":14},"Bonnie","Watson Coleman","12","Rep. Watson Coleman, Bonnie [D-NJ-12]","NJ","D","W000822","2025-03-18T18:45:44Z",[],"House",119,false,"Expanding Penalty Free Withdrawal Act","2026-05-10T15:58:40.730Z",[],3,0,"hr",[],"https:\u002F\u002Fwww.congress.gov\u002Fbill\u002F119th-congress\u002Fhouse-bill\u002F329","\u003Cpre>\n[Congressional Record Volume 171, Number 5 (Thursday, January 9, 2025)]\n[House]\nFrom the Congressional Record Online through the Government Publishing Office [\u003Ca href=\"https:\u002F\u002Fwww.gpo.gov\">www.gpo.gov\u003C\u002Fa>]\nBy Mrs. WATSON COLEMAN:\nH.R. 329.\nCongress has the power to enact this legislation pursuant\nto the following:\nArticle 1, Section 8, Clause 18: To make all Laws which\nshall be necessary and proper for carrying into Execution the\nforegoing Powers, and all other Powers vested by this\nConstitution in the Government of the United States, or in\nany Department or Officer thereof.\n[Page H93]\n\u003C\u002Fpre>","Taxation",{"date":6,"text":31},"Referred to the House Committee on Ways and Means.",329,"in_committee","To amend the Internal Revenue Code of 1986 to expand the availability of penalty-free distributions to unemployed individuals from retirement plans.",2,[37,38,39,40,41],"Employee benefits and pensions","Income tax deferral","Income tax exclusion","Income tax rates","Unemployment","2026-05-22T13:48:21.196Z","taxation",[45,46,47,48,49,50,51,52,53,54,55,56,57,58,59,60,61,62,63,64,65,66,67,68,69,70,71,72,73,74,75,76,77,78,79,80,81,82,83,84,85,86,87,88,89,90,91,92,93,94,95,96,97,98,99,100,101,102,103,104,105,106,107,108,109,110,111,112,113,114,115,116,117,118,119,120,121,122,123,124,125,126,127,128,129,130,131,132,133,134,135,136,137,138,139,140,141,142,143,144,145,146,147,148,149,150,151,152,153,154,155,156,157,158,159,160,161,162,163,164,165,166,167,168,169,10],"expanding","ex","exp","expa","expan","expand","expandi","expandin","penalty","pe","pen","pena","penal","penalt","free","fr","fre","withdrawal","wi","wit","with","withd","withdr","withdra","withdraw","withdrawa","act","to","amend","am","ame","amen","the","internal","in","int","inte","inter","intern","interna","revenue","re","rev","reve","reven","revenu","code","co","cod","of","1986","19","198","availability","av","ava","avai","avail","availa","availab","availabi","availabil","availabili","availabilit","distributions","di","dis","dist","distr","distri","distrib","distribu","distribut","distributi","distributio","distribution","unemployed","un","une","unem","unemp","unempl","unemplo","unemploy","unemploye","individuals","ind","indi","indiv","indivi","individ","individu","individua","individual","from","fro","retirement","ret","reti","retir","retire","retirem","retireme","retiremen","plans","pl","pla","plan","rep","watson","wa","wat","wats","watso","coleman","col","cole","colem","colema","bonnie","bo","bon","bonn","bonni","nj",[],true,[173],{"versionCode":174,"actionDate":6,"actionDesc":175,"text":176,"updateDate":177},"00","Introduced in House","\u003Cp>\u003Cstrong>Expanding Penalty Free Withdrawal Act\u003C\u002Fstrong>\u003C\u002Fp>\u003Cp>This bill allows an individual who is unemployed for a certain period of time to take early distributions from a qualified retirement plan without paying an additional tax on such distributions, subject to limitations.\u003C\u002Fp>\u003Cp>Under current law, a 10% additional tax is imposed on early distributions from a qualified retirement plan unless an exception applies. \u003C\u002Fp>\u003Cp>This bill expands the list of exceptions to include distributions from a qualified retirement plan made (1) to an individual who is unemployed and receives federal or state unemployment compensation for 26 consecutive weeks (or the maximum number of weeks allowed under state law) and (2) in the same tax year that the unemployment compensation is paid or the following tax year. However, under the bill, the 10% additional tax applies to distributions from a qualified retirement plan made after an individual is employed for at least 60 days following a period of unemployment.\u003C\u002Fp>\u003Cp>The bill limits the amount that may be distributed to an unemployed individual from a qualified retirement plan free from the 10% additional tax to the lesser of (1) $50,000 in distributions from all of an individual’s qualified plans over a one-year period, or (2) the greater of $10,000 or half the fair market value of an individual’s qualified retirement plans and the nonforfeitable portion of an individual's defined contribution plans.\u003C\u002Fp>\u003Cp> \u003C\u002Fp>","2025-02-24T19:18:36Z",[179,185,190],{"bioguideId":180,"fullName":181,"party":13,"state":182,"district":183,"sponsorshipDate":184,"isOriginalCosponsor":19,"withdrawn":19,"sponsorshipWithdrawnDate":3},"O000176","Rep. Olszewski, Johnny [D-MD-2]","MD","2","2025-02-05",{"bioguideId":186,"fullName":187,"party":13,"state":188,"district":189,"sponsorshipDate":6,"isOriginalCosponsor":171,"withdrawn":19,"sponsorshipWithdrawnDate":3},"C001127","Rep. Cherfilus-McCormick, Sheila [D-FL-20]","FL","20",{"bioguideId":191,"fullName":192,"party":13,"state":193,"district":194,"sponsorshipDate":6,"isOriginalCosponsor":171,"withdrawn":19,"sponsorshipWithdrawnDate":3},"N000147","Del. Norton, Eleanor Holmes [D-DC-At Large]","DC","0",{"O000176":196,"C001127":197,"N000147":198},"johnny-olszewski","sheila-cherfilus-mccormick","eleanor-holmes-norton",[200,209,214],{"actionDate":6,"actionDateTime":3,"text":31,"type":201,"actionCode":202,"sourceSystem":203,"committees":205,"recordedVotes":3,"calendarNumber":3,"sequenceIndex":24,"isKeyMilestone":19},"IntroReferral","H11100",{"code":35,"name":204},"House floor actions",[206],{"name":207,"systemCode":208},"Ways and Means Committee","hswm00",{"actionDate":6,"actionDateTime":3,"text":175,"type":201,"actionCode":210,"sourceSystem":211,"committees":3,"recordedVotes":3,"calendarNumber":3,"sequenceIndex":35,"isKeyMilestone":171},"1000",{"code":212,"name":213},9,"Library of Congress",{"actionDate":6,"actionDateTime":3,"text":175,"type":201,"actionCode":215,"sourceSystem":216,"committees":3,"recordedVotes":3,"calendarNumber":3,"sequenceIndex":217,"isKeyMilestone":171},"Intro-H",{"code":212,"name":213},1,[],{},[],"bonnie-watson-coleman"]