§ 122. Certain reduced uniformed services retirement pay

Legislative history

Reconstructed from this section’s Code source credit and amendment notes, resolved against the local Statutes at Large. Editorial notes are evidence, not the law that made the change.

1. 1966

   Pub. L. 89–365 § 1(a)(1) · 80 Stat. 32

   Enacted · 26 U.S.C. § 122

   Added Pub. L. 89–365, § 1(a)(1), Mar. 8, 1966, 80 Stat. 32

   Source evidence

   Code source credit
   Added Pub. L. 89–365, § 1(a)(1), Mar. 8, 1966, 80 Stat. 32

   Enacted provision · exact public law section
   (1) part III of subchapter B of chapter 1 of the Internal Revenue Code of 1954 (relating to items specifically excluded from gross income) is amended by redesignating section 122 as section 123, and by inserting after section 121 the following new section: “SEC. 122. CERTAIN REDUCED UNIFORMED SERVICES RETIREMENT PAY. “(a) General Rule.— In the case of a member or former member of the uniformed services of the United States who has made an 70A Stat. 109. 10 USC 1431–1446. election under chapter 73 of title 10 of the United States Code to receive a reduced amount of retired or retainer pay, gross income does not include the amount of any reduction after December 31, 1965, in his retired or retainer pay by reason of such election. “(b) Special Rule.— “(1) Amount excluded from gross income.— In the case of any individual referred to in subsection (a), all amounts received after December 31, 1965, as retired or retainer pay shall be excluded from gross income until there has been so excluded an amount equal to the consideration for the contract. The preceding sentence shall apply only to the extent that the amounts received would, but for such sentence, be includible in gross income. “(2) Consideration for the contract.— For purposes of paragraph 68A Stat. 20; 76 Stat. 821. (1) and section 72(o), the term ‘consideration for the contract’ means, in respect of .any individual, the sum of— “(A) the total amount of the reductions before January 1, 1966, in his retired or retainer pay by reason of an election under chapter 73 of title 10 of the United States Code, and “(B) any amounts deposited at any time by him pursuant 70A Stat. 110. to section 1438 of such title 10.”

2. 1974

   Employee Retirement Income Security Act of 1974

   Pub. L. 93–406 § 2007(a) · 88 Stat. 829

   Substituted · 26 U.S.C. § 122(a)

   Pub. L. 93–406, § 2007(a), substituted “United States, gross income does not include the amount of any reduction in his retired or retainer pay pursuant to the provisions of chapter 73 of title 10, United States Code” for “United States who has made an election under chapter 73 of title 10 of the United States Code to receive a reduced amount of retired or retainer pay, gross income does not include the amount of any reduction after December 31, 1965, in his retired or retainer pay by reason of such election”

   Source evidence

   Code amendment note
   Subsec. (a). Pub. L. 93–406, § 2007(a), substituted “United States, gross income does not include the amount of any reduction in his retired or retainer pay pursuant to the provisions of chapter 73 of title 10, United States Code” for “United States who has made an election under chapter 73 of title 10 of the United States Code to receive a reduced amount of retired or retainer pay, gross income does not include the amount of any reduction after December 31, 1965, in his retired or retainer pay by reason of such election”.

   Enacted provision · exact public law section
   (a) In General.— Section 122(a) (relating to certain reduced uniformed 26 USC 122. services retired pay) is amended to read as follows: “(a) General Rule.— In the case of a member or former member of the uniformed services of the United States, gross income does not include the amount of any reduction in his retired or retainer pay pursuant to the provisions of chapter 73 of title 10, United States Code.”. 10 USC 1431.

3. 1974

   Employee Retirement Income Security Act of 1974

   Pub. L. 93–406 § 2005(c)(10) · 88 Stat. 829

   Substituted · 26 U.S.C. § 122(b)(2)

   Pub. L. 93–406, § 2005(c)(10), substituted “72(n)” for “72(o)”

   Source evidence

   Code amendment note
   Subsec. (b)(2). Pub. L. 93–406, § 2005(c)(10), substituted “72(n)” for “72(o)”.

   Enacted provision · exact public law section
   (10) Section 122(b)(2) (relating to consideration for the contract) 26 USC 122. is amended by striking out “72(o)” and inserting “72(n)”.

4. 1974

   Employee Retirement Income Security Act of 1974

   Pub. L. 93–406 § 2007(b)(1) · 88 Stat. 829

   Inserted · 26 U.S.C. § 122(b)(2)(B)

   Pub. L. 93–406, § 2007(b)(1), inserted reference to section 1452(d) of title 10

   Source evidence

   Code amendment note
   Subsec. (b)(2)(B). Pub. L. 93–406, § 2007(b)(1), inserted reference to section 1452(d) of title 10.

   Enacted provision · exact public law section
   (1) Section 122(b)(2) is amended by striking out “section 1438” in subparagraph (B) and inserting in lieu thereof “section 1438 or 1452(d)”.

5. 2014

   Tax Technical Corrections Act of 2014

   Pub. L. 113–295 div. A title II § 221(a)(21) · 128 Stat. 4010

   Struck · 26 U.S.C. § 122(b)(1)

   Pub. L. 113–295 struck out “after December 31, 1965,” after “all amounts received”

   Source evidence

   Code amendment note
   Subsec. (b)(1). Pub. L. 113–295 struck out “after December 31, 1965,” after “all amounts received”.

   Enacted provision · exact public law section
   (21) Certain reduced uniformed services retirement pay.— Section 122(b)(1) is amended by striking “after December 31, 1965,”.

   Effective date note
   Amendment by Pub. L. 113–295 effective Dec. 19, 2014, subject to a savings provision, see section 221(b) of Pub. L. 113–295, set out as a note under section 1 of this title.

5 of 5 references resolved to an enrolled provision