GRACE for Military Survivors Act

[Congressional Bills 119th Congress]
[From the U.S. Government Publishing Office]
[H.R. 9489 Introduced in House (IH)]

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119th CONGRESS
  2d Session
                                H. R. 9489

 To amend the Internal Revenue Code of 1986 to extend the time period
   for the contribution of military death benefits to Roth IRAs and
                 Coverdell education savings accounts.

_______________________________________________________________________

                    IN THE HOUSE OF REPRESENTATIVES

                             June 25, 2026

 Mr. Thompson of California (for himself, Mr. Steube, Mr. Vargas, Mr.
    Bergman, Mr. Ellzey, Ms. Norton, Mr. Buchanan, Ms. Sewell, Mr.
  Harrigan, Ms. Moore of Wisconsin, Mrs. Kiggans of Virginia, and Mr.
  Thanedar) 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 extend the time period
   for the contribution of military death benefits to Roth IRAs and
                 Coverdell education savings accounts.

    Be it enacted by the Senate and House of Representatives of the
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``GRACE for Military Survivors Act''.

SEC. 2. EXTENSION OF TIME PERIOD FOR CONTRIBUTION OF MILITARY DEATH
              BENEFITS TO ROTH IRAS AND COVERDELL EDUCATION SAVINGS
              ACCOUNTS.

    (a) In General.--Sections 408A(e)(2)(A) and 530(d)(9)(A) of the
Internal Revenue Code of 1986 are each amended by striking ``1-year
period'' and inserting ``3-year period''.
    (b) Effective Dates.--
            (1) In general.--Except as provided by paragraph (2), the
        amendments made by this section shall apply to amounts received
        under section 1477 of title 10, United States Code, or section
        1967 of title 38 of such Code, on or after the date of the
        enactment of this Act.
            (2) Application of amendments to amounts received between
        october 7, 2001 and before enactment.--The amendments made by
        this section shall apply to any contribution made pursuant to
        section 408A(e)(2)(A) or 530(d)(5) of the Internal Revenue Code
        of 1986, as amended by this Act, with respect to amounts
        received under section 1477 of title 10, United States Code, or
        section 1967 of title 38 of such Code, on or after October 7,
        2001, and before the date of the enactment of this Act, if such
        contribution is made before the later of--
                    (A) the date which is 3 years after the date on
                which such amounts were so received, or
                    (B) the date which is 1 year after the date of the
                enactment of this Act.
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