United States · United States Congress · 30 May 1991
Section 457 Reform and Simplification Act of 1991 - Amends the Internal Revenue Code to state that the accounting provisions applicable to the deferred compensation plans of State and local governments and of private tax-exempt organizations shall not apply to nonelective deferred compensation. Directs the Secretary of the Treasury to promulgate regulations defining nonelective deferred compensation. Applies such provisions retroactively to tax year 1988 and thereafter.
United States · United States Congress · 30 May 1991
Amends the Internal Revenue Code to apply the special rule for principal campaign committees on graduated tax rates to candidates for any Federal, State, or local elective public office. (Currently, such rule applies only to congressional candidates.)
United States · United States Congress · 23 May 1991
Amends the Trade Act of 1974 to require the United States Trade Representative to take specified trade action, and in certain cases give discretionary authority to take such action, against a foreign country whose act, policy, or practice threatens to burden or restrict U.S. commerce. Declares that an act, policy, or practice that threatens to burden or restrict U.S. commerce is an act, policy, or practice that does not currently burden or restrict such commerce, but, if not corrected, is reasonably expected to burden or restrict it.
United States · United States Congress · 20 May 1991
Pension Coverage and Portability Improvement Act of 1991 - Title I: Portable Pension Plans - Amends the Employee Retirement Income Security Act of 1974 (ERISA) to set forth definitions and requirements relating to portable pension plans. Defines a portable pension plan as a pension plan consisting of one or more simplified employee pensions (SEPs), individual retirement accounts (IRAs), individual account plans, or tax-deferred annuities which meet requirements for: (1) the amount contributed by employers on behalf of employees under specified Internal Revenue Code (IRC) provisions; and (2) portability under ERISA as amended by this Act. Requires for portability that a plan provides for: (1) distribution of all or part of the accrual benefit in the form of a direct transfer from the plan to a portable pension plan, pursuant to a written election any individual who has an accrued benefit under the plan (or the beneficiary of the dead individual), and spousal consent; and (2) acceptance, with respect to any individual, of any transfer to the plan of a plan distribution which is not includable in gross income, any plan distribution to such a plan which is not includable in gross income, or any direct transfer to such plan from any other SEP plan, portable pension plan, or specified plans under IRC which include a tax-exempt trust. Requires any portable pension plan providing for individual accounts to permit participants or beneficiaries to exercise control over the assets in their accounts as required by specified ERISA provisions and as determined by regulations of the Secretary of Labor. Requires distributions of the accrued benefit under portable pension plans to be made only: (1) in one of certain permitted standard retirement forms (but allows election of other forms under specified conditions); and (2) with the consent of the participant or beneficiary, and upon their timely written application, and in accordance with the terms of the plan. Requires the administrator of a portable pension plan to, immediately before making a distribution, provide to the individual who is to be the recipient a written explanation of: (1) possible taxes or penalties under IRC; (2) the applicable permitted retirement income form's terms and conditions; (3) the participant's right to elect another form; and (4) the rights of the participant's spouse. Directs the Secretary of Labor, in consultation with the Secretary of the Treasury, to prescribe one or more prototype portable pension plans, within 12 months after enactment of this Act. Outlines the types of persons or entities that may be plan sponsors of portable pension plans. Requires all employers, within 24 months after enactment of this Act, to provide for maintenance of an individual account plan into which employees may make salary reduction contributions. Allows employers to satisfy such requirement by: (1) amending an existing pension plan maintained by the employer to comply with portable pension plan requirements for such salary reduction contributions; (2) adopting a minimum-benefit pension plan providing for voluntary salary reduction contributions; or (3) adopting a separate portable pension plan, as described under this Act. Amends the IRC to set forth maximum salary reduction amount tax-deductible contribution limits for minimum-benefit portable pension plans. Requires, in a defined benefit plan, that the present value of accrued benefits of a participant in a minimum-benefit pension plan shall be determined by using an assumed interest rate of three percent. (Provides special transition rules, for the first consecutive three full plan years following enactment of this Act, under which such rate is six percent for the first year, five percent for the second year, and four percent for the third year.) Amends IRC to increase to 25 percent (from ten percent) the early withdrawal penalty tax on preretirement distributions of employee pension plan contributions that are not rolled over into an IRA or other qualified plan. Title II: Minimum Benefit Pension System - Requires employers to provide for the maintenance of a minimum-benefit pension plan in which all of their employees may be participants after completing one year of service with the employer. Allows employers to provide for such plan maintenance only by: (1) maintaining the plan; (2) adopting a prototype portable pension plan; or (3) entering into an agreement with one or more other employers, employee organizations, or both, under which such plan is maintained. Requires minimum-benefit pension plans to be described under specified IRC provisions, include a tax-exempt trust, and, with respect to employer maintenance: (1) for an individual account plan, have an employer contribution for each participant's account of at least six percent of their compensation paid by the employer for the plan year; or (2) for a defined benefit plan, have each participant's accrued benefit derived from employer contributions equal the greater of the accrued benefit under the plan, the present value of accrued benefits, or the amount of the participant's accrued benefit if the employer had made contributions to an individual account. Requires that all plans qualifying under specified IRC provisions to be taken into account in determining whether an employer meets such maintenance requirements. Grants a participant a nonforfeitable right to 100 percent of the part of the accrued benefit derived from employer contributions. Sets forth transition rules for such minimum-benefit pension system. Makes the employer contribution requirements inapplicable for the first plan year for which the employer provides such maintenance. Requires, with respect to applying such employer contributions requirements for the following three plan years, that such a plan be maintained by: (1) all employers of over 500 employees, for the first plan year; (2) all employers of over 100 employees, for the second plan year; and (3) all employers, for the third plan year. Requires with respect to the first three plan years in which an employer is required to maintain and contribute to such plan that the minimum portion of the employee compensation that must be equaled by such contribution be three percent for the first year, four percent for the second year, and five percent for the third year. Prohibits the minimum benefit (as described under the requirement for the present value of accrued benefits) from being diminished or offset in any way by other employee benefit plans or specified benefits under the Social Security Act. Amends the IRC to impose a tax on employers for failure to make minimum-benefit plan contributions. Sets such tax at 110 percent of the amount by which the required contribution exceeds that actually contributed for the year. Makes such minimum benefit pension system under title II of this Act effective 60 months after enactment of this Act unless: (1) the Secretary of Labor certifies to the Congress that at least 75 percent of full-time employees of employers covered by ERISA are active participants in portable pension plans as defined under title I of this Act meet minimum-benefit pension plan requirements established in title II of this Act; (2) the Congress is persuaded by the Secretary's findings that the goals of universal pension coverage and improved pension portability in the private pension system have been substantially achieved; and (3) this title II is repealed by a simple majority vote of both Houses of the Congress. Directs the Secretaries of Labor and of the Treasury to issue regulations and procedures for enactment of this Act within 12 months after its enactment.
United States · United States Congress · 15 May 1991
Economic Resurgence and Jobs for America Act - Title I: Investment Tax Credit - Amends the Internal Revenue Code to reinstate a five-percent investment tax credit for property placed in service after December 31, 1991. Repeals provisions of the Revenue Reconciliation Act of 1990 concerning the elimination of expired or obsolete investment tax credit provisions. Title II: Capital Gains Tax Reduction - Amends the Internal Revenue Code to reduce the individual and corporate capital gains rate from 34 percent to 15 percent. Reduces such tax to 7.5 percent for low- and middle-income taxpayers. Provides for the phaseout of personal exemptions and the overall limitation on itemized deductions to take into account adjusted gross income which has been reduced by net capital gain. Requires indexing, based on the gross national product deflator, of the adjusted basis of certain assets (corporate stock and tangible property that is a capital asset of property used in a trade or business) that have been held for more than one year at the time of sale or other transfer, solely for the purpose of determining gain or loss. Provides for indexing the limitation on capital losses of noncorporate taxpayers.
United States · United States Congress · 8 May 1991
Anti-Boycott Passport Act of 1991 - Directs the Secretary of State to: (1) instruct the U.S. Middle Eastern diplomatic corps to seek an end to the policy of the majority of Arab League nations of rejecting passports of, and denying entrance visas to, persons whose passports or other documents reflect that they have visited Israel; and (2) report to specified congressional committees on the status of efforts to secure an end to such policy. Prohibits the Secretary from issuing any passport that is designated for travel only to Israel. Requires the Secretary to cancel existing passports designated for travel only to Israel. Prohibits the Secretary from issuing more than one official or diplomatic passport to any U.S. Government official for purposes of enabling such official to acquiesce in or comply with the Arab League's passport policy concerning persons who have visited Israel.
United States · United States Congress · 8 May 1991
Amends the National Labor Relations Act to eliminate all provisions authorizing union security agreements (agreements which require union membership or the payment of dues or fees to a union as a condition of employment). Allows an individual employee to elect to enter into and administer an individual contract of employment with an employer without the intervention of a bargaining representative. Repeals the requirement that the National Labor Relations Board take a secret ballot of the employees in a bargaining unit upon the petition of at least 30 percent of them to rescind the authority of a union security agreement.
United States · United States Congress · 8 May 1991
Constitutional Amendment - Requires the Congress, prior to each fiscal year, to adopt a statement in which total Federal outlays (except those for repayment of debt principal) do not exceed total receipts (except those derived from borrowing), unless a three-fifths vote of both Houses authorizes a specific excess. Limits the rate of increase in receipts in the statement to that of the increase in national income in the previous calendar year, unless law is enacted solely to approve specific additional receipts. Directs the President to submit a balanced budget. Authorizes waiver of these provisions in time of war. Sets a permanent limit on the amount of Federal public debt, prohibiting any increase unless legislation enacted by a three-fifths majority of both Houses becomes law.
United States · United States Congress · 7 May 1991
Common Sense Budget Act of 1991 - Amends Federal law to require both the President and the Congress to draft a budget based on estimates of current fiscal year spending, proposing increases or decreases based on this level (rather than on an estimated baseline). Amends the Congressional Budget Act of 1974 to require the Congressional Budget Office to use such a current fiscal year baseline in its report to the congressional budget committees, projecting growth for entitlement and discretionary spending based on current fiscal year spending.
United States · United States Congress · 1 May 1991
Just Compensation Act of 1991 - Requires the head of any Federal agency who takes an action under the Endangered Species Act, the Surface Mining Control and Reclamation Act of 1977, or under specified provisions of the National Trails System Act or of the Federal Water Pollution Control Act relating to wetlands to compensate the owner of private property for any diminution in value caused by the action. Authorizes appropriations.
United States · United States Congress · 1 May 1991
Constitutional Amendment - Declares that nothing in the Constitution shall prohibit the inclusion of voluntary prayer in any public school program or activity. Provides that neither the United States nor any State shall prescribe the content of any such prayer.
United States · United States Congress · 1 May 1991
Amends rules XXI of the Rules of the House of Representatives to require a three-fifths majority vote on the passage of any bill, amendment, or conference report that increases revenues. Amends rule XI to prohibit the Committee on Rules from reporting any rule or order to waive such requirement.
United States · United States Congress · 24 April 1991
Designates September 20, 1991, as National POW/MIA recognition Day. Requires the display of the National League of Families POW/MIA flag: (1) at all national cemeteries and the National Vietnam Veterans Memorial on May 30, 1991 (Memorial Day), September 20, 1991 (National POW/MIA Recognition Day), and November 11, 1991 (Veteran's Day); and (2) on, or on the grounds of, the White House, and the buildings containing the primary offices of the Secretaries of State, Defense, and Veterans Affairs, and the Director of the Selective Service Commission on September 20, 1991 (National POW/MIA Recognition Day).
United States · United States Congress · 24 April 1991
Designates May 15, 1991, as Joe DiMaggio Day, in honor of the 50th anniversary of his remarkable and lasting major league feat of hitting in 56 consecutive games.
United States · United States Congress · 23 April 1991
Nuclear Decommissioning Reserve Fund Act of 1991 - Amends the Internal Revenue Code to: (1) decrease the rate of the tax imposed on the income of any Nuclear Decommissioning Reserve Fund; and (2) remove restrictions on permitted investments of Fund monies.
United States · United States Congress · 17 April 1991
National Commemorative Events Advisory Act - Establishes the President's Advisory Commission on National Commemorative Events to: (1) establish criteria for recommending to the President that a proposed commemorative event be approved or disapproved; (2) review proposals for national commemorative events submitted in accordance with procedures published by the Commission; and (3) issue recommendations to the President concerning each proposal reviewed. Terminates the Commission within five years after the date of its first meeting.
United States · United States Congress · 16 April 1991
Amends the Harmonized Tariff Schedule of the United States to reduce, through December 31, 1994, the duty on certain fresh, chilled, or frozen brussels sprouts.
United States · United States Congress · 16 April 1991
Amends the Harmonized Tariff Schedule of the United States to suspend, through December 31, 1994, the duty on fluorescent yellow FGPN, solvent yellow 44.
United States · United States Congress · 11 April 1991
Declares that the Congress finds that both Czechoslovakia and Hungary have: (1) recognized fundamental human rights with respect to their citizens; (2) introduced economic reforms based on market-oriented principles; and (3) demonstrated a desire to build a friendly relationship with the United States. Amends the Trade Act of 1974 to authorize the President to extend nondiscriminatory treatment (most-favored-nation treatment) to the products of both countries.
United States · United States Congress · 11 April 1991
Omnibus Adoption Act of 1991 - Title I: National Advisory Council on Adoption - Establishes the National Advisory Council on Adoption (the Council), to be appointed by the Secretary of Health and Human Services (HHS). Terminates such Council after four years. Title II: Adoption Data Collection System - Directs the Secretary of HHS to: (1) report to the Congress, within 30 days, on the status of the implementation of the adoption data collection system required under specified provisions of the Social Security Act, including specific assurances relating to such system; (2) report monthly to the Congress on the progress made in implementing such system; and (3) consult with the Council in developing regulations to carry out such reporting requirements and assurances. Title III: Adoption Education Programs - Amends the Higher Education Act of 1965 (HEA) to establish a program of fellowships for graduate study in social work, in innovative programs concerning the effects of adoption on the adopted children, their adoptive families, and their biological parents who make an adoption plan. Directs the Secretary of Education to award up to 50 such fellowships. Sets forth provisions for student selection procedures, stipends, payments to institutions, fellowship conditions, consultation with the Council, and an authorization of appropriations for FY 1992 through 1996. Directs the Secretary of Education, within one year after enactment of this Act, to make grants to States to carry out adoption education programs. Sets forth provisions for grants amounts, applications and agreements, program guidelines, consultation with the Council, and an authorization of appropriations for FY 1992 through 1994. Title IV: Adoption Benefits for Federal Employees and Military Personnel - Amends Federal law relating to Federal employees to allow their sick leave (including advance sick leave) to be used for purposes relating to the adoption of a child. Includes prenatal and maternal benefits (other than those relating to a surrogate parenting arrangement) for the biological mother of an adoptive child among the types of benefits which may be provided under Federal employee benefits plans. Directs the Office of Personnel Management (OPM) to establish minimum standards for this type of benefits, in accordance with specified guidelines. Amends Federal law relating to members of the uniformed services to require establishment of a program to reimburse them for expenses they incur for prenatal and maternal care provided to the biological mother of a child they legally adopt. Limits such reimbursement to care provided on or after the date on which the member notifies the appropriate administering Secretary. Prohibits such reimbursement for expenses incurred in carrying out a surrogate parenting arrangement. Includes prenatal care among types of authorized care for military dependents. Includes care for preexisting conditions among the types of authorized care for adopted children of uniformed service members. Defines adopted child, for purposes of Federal law relating to members of the uniformed services, as a child with respect to whom a written plan of adoption has been entered into pursuant to the laws of the State in which the child resides. Directs OPM and the Secretary of Defense to coordinate their development of regulations and guidelines to carry out their responsibilities under this title, and to consult with the Council in such development. Title V: Adoption Tax Credit - Amends the Internal Revenue Code (IRC) to establish a refundable tax credit for certain amounts of adoption expenses, for taxpayers at certain income levels. Title VI: Maternal Health Certificates Program - Directs the Secretary of HHS, within 180 days after enactment of this Act, to establish a program to provide maternal health certificates for eligible pregnant women to use to cover expenses incurred in receiving services at a maternal and housing services facility. Bases eligibility on an individual's having an annual individual income of not greater than 175 percent of the applicable official poverty line income. Determines such income without taking account of: (1) the income of any parent or guardian of the individual; or (2) the income of an estranged spouse who has been living apart from the woman for at least six months. Prohibits finding an individual ineligible for such program solely on the grounds that they do not receive aid under the State plan for aid for families with dependent children (AFDC) under the Social Security Act. Sets limits on the amount of expenses which such program certificates may cover. Directs the Secretary of HHS to consult with the Council in developing regulations for such program. Authorizes appropriations for FY 1992 through 1994 for such maternal health certificates program. Title VII: Rehabilitation Grants for Maternity Housing and Services Facilities - Directs the Secretary of Housing and Urban Development (HUD) to carry out a program to make grants to eligible nonprofit entities for rehabilitation of existing structures for use as facilities to provide housing and services to pregnant women. Sets forth provisions for such grant program authority, applications, limitations on numbers and amounts of grants, and reporting requirements. Directs the Secretary of HUD to consult with the Council in issuing such program regulations. Authorizes appropriations for such program for FY 1992 through 1994. Title VIII: Sense of Congress Regarding Changes in State Adoption Laws - Expresses the sense of the Congress that each State should adopt and enforce specified types of adoption laws, rules, or regulations, which include provisions for: (1) disclosure of all relevant information, including background information (except actual identification of the child or biological parents), to the prospective adoptive parent, with criminal penalties for unauthorized disclosure, (2) pre-placement investigations of the prospective adoptive parent; (3) disclosure to the court of all costs incurred by or on behalf of each party to the adoption; (4) guaranteed adequate legal representation for the biological mother; (5) filing of a petition for adoption with the appropriate court within one year after placement; and (6) coverage by the health plan of the adoptive parent of pregnancy and childbirth expenses (excluding surrogate parenting arrangements) for the child and the biological mother, or for any dependent child of the plan enrollee, and plan coverage of pre-existing conditions of adopted children.
United States · United States Congress · 9 April 1991
861-R&D Permanent Resolution Act of 1991 - Amends the Internal Revenue Code to make permanent the rules on the allocation of research and experimental expenditures. (Currently, such rules expire on August 1, 1991.)
United States · United States Congress · 22 March 1991
Amends the Export-Import Bank Act of 1945 to prohibit, except under specified circumstances, the Export-Import Bank from using any of its funds or borrowing authority to extend credit for the sale of defense articles and services to any country. (Currently, only to economically less developed countries.)
United States · United States Congress · 21 March 1991
Church Retirement Benefits Simplification Act of 1991 - Amends the Internal Revenue Code to recodify and revise qualifications for church retirement and pension plans. Makes employee contributions to such plans nonforfeitable. Allows ten-year vesting with a nonforfeitable right to 100 percent of accrued benefits derived from employer contributions. Allows five-to-fifteen year vesting with a nonforfeitable right to a percentage (25% to 100%) of such accrued benefits. Requires the plan to meet minimum vesting requirements. Provides that no employee shall be considered an officer, shareholder, supervisor, or highly compensated employee if such employee receives less than $50,000 per year. Excludes from such consideration employees covered by a collective bargaining agreement if retirement benefits were a subject of good faith bargaining. Recodifies the authority of a church or a convention or association of churches to be treated as an employer making contributions to retirement income accounts. Subjects church-related hospitals and universities to certain coverage and related rules in the case of a contract purchased by a church. Requires distributions from retirement income accounts provided by churches to be in accordance with distributions under cash or deferred arrangements. Provides for determining the beginning date for such distributions. Allows self-employed ministers and chaplains who work for non-church employers to participate in their church plans. Provides that certain rules aggregating employees do not apply to churches. Restores qualified voluntary employee contributions to church plans. Treats self-employed ministers as employees for purposes of certain welfare benefit plans and retirement income accounts. Allows a deduction for contributions to retirement income accounts by such ministers. Provides that a church plan maintained by more than one employer shall not be treated as a single plan. Provides that accounting methods of deferred compensation plans of State and local governments and tax-exempt organizations do not apply to a church plan. Exempts a church plan from the requirement to maintain separate accounts for medical benefits for key employees. Provides that the special rules for computing employee contributions to pension plans do not apply to certain foreign missionaries. Repeals the elective deferral catch-up limitation for church retirement income accounts. Allows church plans to annuitize benefits and increase benefit payments. Provides that rules for self-insured medical reimbursement plans are not applicable to church plans.
United States · United States Congress · 21 March 1991
Amends the Internal Revenue Code to remove charitable contributions of appreciated capital gain property as an item of tax preference for purposes of the alternative minimum tax.
United States · United States Congress · 21 March 1991
Expresses the sense of the Congress that the President should: (1) negotiate a new base rights agreement with the Government of Panama to allow the permanent stationing of U.S. military forces in Panama beyond 1999 and to ensure that the United States will be able to act independently to maintain the security and operation of the Panama Canal; and (2) consult with the Congress throughout such negotiations.
United States · United States Congress · 19 March 1991
Directs the Comptroller General to conduct an annual audit of the Federal Reserve Board, the Federal Advisory Council, the Federal Open Market Committee, and all Federal Reserve banks and their branches. Requires the Comptroller General, within six months after the end of each fiscal year, to report to the Congress on the results of such audit.
United States · United States Congress · 19 March 1991
Family Unity and Parental Notification Act - Amends the Public Health Service Act to prohibit financial assistance under titles XVIII (Medicare) and XIX (Medicaid) of the Social Security Act and specified provisions of the Public Health Service Act unless the receiving entity agrees to notify the parents of an unemancipated minor under the age of 18 48 hours before performing an abortion on the minor, except in an emergency threatening the minor's life. Declares that the notification requirement does not apply in a State which requires parental notification or parental consent. States that certain provisions of this Act apply without regard to whether the State allows the parental notification or the parental consent requirements to be waived through judicial proceedings.
United States · United States Congress · 19 March 1991
Amends the Internal Revenue Code to restore prior law for determining wages subject to employer social security taxes for certain employers whose employees receive income from tips.
United States · United States Congress · 18 March 1991
Intangibles Amortization Clarification Act of 1991 - Amends the Internal Revenue Code to allow the amortization of customer based, market share and similar intangible items for purposes of the depreciation deduction.
United States · United States Congress · 14 March 1991
Amends the Comprehensive Environmental Response, Compensation, and Liability Act of 1980 to exclude from the definition of "owner or operator," for purposes of limiting liability for releases of hazardous substances, a person who, without participating in the management of a vessel or facility, holds indicia of ownership primarily to protect a security interest in such vessel or facility. Defines "indicia of ownership" as an interest in a vessel or facility acquired either for: (1) securing payment of a loan or indebtedness or the performance of an obligation; or (2) protecting a security interest. Makes liable for any release or threatened release of a hazardous substance attributable to their activities: (1) any person who causes the transfer of a vessel or facility subject to a security interest; or (2) a fiduciary or trustee who acquires ownership or control of a vessel or facility. Makes conforming amendments to the Resource Conservation and Recovery Act of 1976.
United States · United States Congress · 13 March 1991
Requires the Federal Government, before acquiring 100 or more acres of land in a State in which it already owns at least 25 percent of the land, to dispose of land in that State of value equal to the land to be acquired. Exempts from the applicability of this Act certain land held in trust or held or acquired by the Government for debt collection purposes.
United States · United States Congress · 13 March 1991
Amends the Internal Revenue Code to provide for the treatment of rental and nonrental real estate activities under the limitations on losses from passive activities.
United States · United States Congress · 13 March 1991
Amends the Internal Revenue Code to provide that for purposes of computing the foreign tax credit, any deduction for State or local income or franchise tax shall not be allocated or apportioned to gross income from sources outside the United States.
United States · United States Congress · 12 March 1991
Collegiate Speech Protection Act of 1991 - Amends title VI (Federally Assisted Programs) of the Civil Rights Act of 1964 to prohibit a postsecondary educational institution that is a program or activity from subjecting any student to disciplinary sanctions solely on the basis of conduct that is speech or other communication protected from governmental restriction by the First Amendment of the Constitution. Authorizes civil actions for injunctive and declaratory relief, with awards of attorneys' fees and other costs. Exempts educational institutions controlled by a religious organization from application of this Act if application would be inconsistent with the religious tenets of the organization.
United States · United States Congress · 12 March 1991
Savings and Investment Incentive Act of 1991 - Title I: Retirement Savings Incentives - Amends the Internal Revenue Code to remove the limitations on deductions for individual retirement plans and provides a cost-of-living adjustment for deductible amounts. Establishes special individual retirement accounts that are nondeductible. Makes such accounts nontaxable if earnings on contributions are held for at least five years. Applies the early withdrawal penalty to distributions made before the end of the five year-period. Title II: Penalty-Free Distributions - Provides exemptions from the ten-percent penalty on early withdrawals from individual retirement plans for: (1) first home purchases; (2) higher education expenses; and (2) financially devastating medical expenses.
![Official portrait of Rep. Crane, Philip M. [R-IL-8]](https://www.congress.gov/img/member/c000873_200.jpg)