PUBLIC LAW 109–73—SEPT. 23, 2005
119 STAT. 2017
SEC. 2. HURRICANE KATRINA DISASTER AREA.
For purposes of this Act— (1) HURRICANE KATRINA DISASTER AREA.—The term ‘‘Hurricane Katrina disaster area’’ means an area with respect to which a major disaster has been declared by the President before September 14, 2005, under section 401 of the Robert T. Stafford Disaster Relief and Emergency Assistance Act by reason of Hurricane Katrina. (2) CORE DISASTER AREA.—The term ‘‘core disaster area’’ means that portion of the Hurricane Katrina disaster area determined by the President to warrant individual or individual and public assistance from the Federal Government under such Act.
TITLE I—SPECIAL RULES FOR USE OF RETIREMENT FUNDS FOR RELIEF RELATING TO HURRICANE KATRINA SEC. 101. TAX-FAVORED WITHDRAWALS FROM RETIREMENT PLANS FOR RELIEF RELATING TO HURRICANE KATRINA.
(a) IN GENERAL.—Section 72(t) of the Internal Revenue Code of 1986 shall not apply to any qualified Hurricane Katrina distribution. (b) AGGREGATE DOLLAR LIMITATION.— (1) IN GENERAL.—For purposes of this section, the aggregate amount of distributions received by an individual which may be treated as qualified Hurricane Katrina distributions for any taxable year shall not exceed the excess (if any) of— (A) $100,000, over (B) the aggregate amounts treated as qualified Hurricane Katrina distributions received by such individual for all prior taxable years. (2) TREATMENT OF PLAN DISTRIBUTIONS.—If a distribution to an individual would (without regard to paragraph (1)) be a qualified Hurricane Katrina distribution, a plan shall not be treated as violating any requirement of the Internal Revenue Code of 1986 merely because the plan treats such distribution as a qualified Hurricane Katrina distribution, unless the aggregate amount of such distributions from all plans maintained by the employer (and any member of any controlled group which includes the employer) to such individual exceeds $100,000. (3) CONTROLLED GROUP.—For purposes of paragraph (2), the term ‘‘controlled group’’ means any group treated as a single employer under subsection (b), (c), (m), or (o) of section 414 of such Code. (c) AMOUNT DISTRIBUTED MAY BE REPAID.— (1) IN GENERAL.—Any individual who receives a qualified Hurricane Katrina distribution may, at any time during the 3-year period beginning on the day after the date on which such distribution was received, make one or more contributions in an aggregate amount not to exceed the amount of such distribution to an eligible retirement plan of which such individual is a beneficiary and to which a rollover contribution of such distribution could be made under section 402(c),
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