S 2495
Kathryn Manginelli Act of 2019
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- Passed Senate
- Passed House
- To President
- Became Law
Bill overview
This bill, the Kathryn Manginelli Act of 2019, allows individuals diagnosed with a terminal illness to take early distributions from their tax-advantaged retirement plans without incurring penalties. The bill amends the Internal Revenue Code to define ‘terminal illness’ as a condition expected to result in death within seven years of diagnosis, as determined by a physician. It requires documentation to support the diagnosis. This legislation aims to provide financial relief to individuals facing a terminal illness and their families.
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Primary sponsor
Richard Burr
Cosponsor
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