To amend the Internal Revenue Code of 1986 to impose limitations...
To amend the Internal Revenue Code of 1986 to impose limitations on high-income taxpayers with large retirement account balances.
HB9813 proposes changes to the Internal Revenue Code, aiming to limit certain tax benefits for high-income taxpayers who have substantial retirement account balances. Essentially, the bill seeks to prevent wealthy individuals from fully benefiting from tax advantages associated with large retirement savings.
This bill would primarily affect high-income individuals with significant retirement savings. By imposing limits on their tax benefits, the bill aims to ensure that tax advantages are more evenly distributed across different income levels. For these taxpayers, it could mean paying more in taxes during their working years or receiving fewer tax breaks on their retirement accounts.
As of the last update on July 21, 2026, HB9813 was introduced in the House and referred to the House Committee on Ways and Means. This committee will review the bill, hold hearings, and potentially make recommendations for amendments before it moves forward in the legislative process.
