H.R. 1720: LOSAP CAP Act
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H.R. 1720: LOSAP CAP Act
115th Congress · introduced 2017-03-24 · Taxation · Latest: Referred to the House Committee on Ways and Means.
federal
Follow this bill, step by step
- Where it came from: introduced 2017-03-24 · official record
- Who proposed it: Rep. King, Peter T. [R-NY-2] · what a sponsor is
- What happened next: no floor votes in our records yet. Why?
- Where it stands now: Referred to the House Committee on Ways and Means. Not final yet: this can still change. We check for updates every day.
- If it becomes law and spends money: follow the money to money laws, then agencies and contracts and grants.
Official title
LOSAP CAP Act
Plain summary
Length of Service Award Program Cap Adjustment Priority Act or the LOSAP CAP Act This bill amends the Internal Revenue Code, with respect to deferred compensation plans, to increase the limit on accruals that is required for length of service award plans (LOSAPs) for bona fide volunteers to be exempt from treatment as a deferred compensation plan. (Under current law, plans paying solely length of service awards to bona fide volunteers or their beneficiaries on the account of firefighting and prevention services, emergency medical services, and ambulance services performed by the volunteers are not treated as deferred compensation plans if they meet certain requirements. One of the requirements is a limit on the aggregate amount of length of service awards that may accrue with respect to any year of service for any bona fide volunteer.) The bill modifies the limit on accruals to: (1) increase the limit from $3,000 to $6,000; (2) provide for a cost-of-living adjustment to the limit after 2017; and (3) specify that, in the case of LOSAPs that are defined benefit plans, the limit applies to the actuarial present value of the aggregate amount of length of service awards accruing with respect to any year of service.
Congressional Research Service summary (Introduced in House), quoted unchanged (nonpartisan). Read the source.
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How did my representative vote? · This bill's floor votes
Officials and money
Sponsor: Rep. King, Peter T. [R-NY-2] · 3 cosponsors
Cost estimate: No cost estimate published yet.
Cosponsors on this site
No linked floor roll calls in our collected records yet. This does not mean the bill has never had a vote. Check the official bill history.
Words on this page, explained (2)
- Bill
- A proposed law. It becomes law only if it passes the legislature and is signed by the president or governor (or a veto is overridden).
- Exemption
- A rule that removes certain people, property or activities from a tax or requirement.
Plain meanings written from linked sources. All words.
Sources
- Congressional Research Service summary (Introduced in House)
- Congress.gov
- Data: GovInfo BILLSTATUS bulk data (Library of Congress), BILLSTATUS-115hr1720.xml <https://www.govinfo.gov/bulkdata/BILLSTATUS/115/hr>
Record fed-us-cong115-hr1720 · catalog fed-us-congress-bills-cong115 · updated 2026-11-15 by psicol fed-bills-cong115