2003 Senate Bill 194

Introduced in the Senate

Feb. 18, 2003

Introduced by Sen. Bruce Patterson (R-7)

To authorize individual tax-deferred IRA-type worker financial security accounts, to be used to cover expenses during a period of unemployment or at retirement. The limit on cumulative contributions to any account would be $75,000 per individual. Senate Bill 216 proposes income tax-deductible contributions of up to $5,000.

Referred to the Committee on Finance