What the bill does
Defending Public Safety Employees' Retirement Act (Sec. 2) This bill amends the Internal Revenue Code, with respect to the exemption from the 10% penalty tax on early distributions from a government retirement plan for qualified public safety employees who have reached age 50, to expand the exemption to include specified federal law enforcement officers, customs and border protection officers, federal firefighters, and air traffic controllers who similarly have reached age 50. The bill also eliminates the restriction that only distributions from governmental plans that are defined benefit plans qualify for the exemption, thus allowing an exemption of distributions from defined contribution plans and other types of governmental plans. Additionally, early distributions are not treated as a modification of substantially equal payments for purposes of determining an increase in the penalty tax. The amendments made by this bill apply to distributions made after December 31, 2015. (Sec. 3) The budgetary effects of this Act shall not be entered on either PAYGO scorecard maintained under the Statutory Pay-As-You-Go Act of 2010. TITLE I–TRADE PROMOTION AUTHORITY Bipartisan Congressional Trade Priorities and Accountability Act of 2015 (Sec. 102) Declares the overall trade negotiating objectives of the United States with respect to any agreement with a foreign country to reduce or eliminate existing tariffs or nontariff barriers of that country or the United States that are unduly burdening and restricting U. S. trade. Includes among such objectives: more open, equitable, and…
Subjects: Administrative law and regulatory procedures, Advisory bodies, Agricultural prices, subsidies, credit, Agricultural trade, Air quality, Arab-Israeli relations, Arctic and polar regions, Asia, Aviation and airports, Competitiveness, trade promotion, trade deficits