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Sen. Daniel Biss
Filed: 4/4/2014
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| 1 | | AMENDMENT TO SENATE BILL 2758
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| 2 | | AMENDMENT NO. ______. Amend Senate Bill 2758 on page 27, |
| 3 | | immediately below line 11, as follows:
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| 4 | | "Section 95. Federal considerations. The Board may not |
| 5 | | implement the Program if the IRA arrangements offered under the |
| 6 | | Program fail to qualify for the favorable federal income tax |
| 7 | | treatment ordinarily accorded to IRAs under the Internal |
| 8 | | Revenue Code or if it is determined that the program is an |
| 9 | | employee benefit plan and State or employer liability is |
| 10 | | established under the federal Employee Retirement Income |
| 11 | | Security Act.".
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