GRACE for Military Survivors Act

This bill changes federal tax law on how long survivors have to put military death benefits into a Roth IRA or a Coverdell education savings account. Right now, survivors who receive a military death gratuity or Servicemembers' Group Life Insurance payment have 1 year to make that contribution. The bill would extend that window to 3 years. It would also apply to benefits received on or after October 7, 2001, and before the law is enacted, if the contribution is made by the later of 3 years after the benefit was received or 1 year after the bill becomes law.

Full text and official record on Congress.gov

Sponsors

• Richard Blumenthal Democrat sponsor
• 1 cosponsors