A bill to amend the Internal Revenue Code of 1954 to permit first-time homebuyers to use amounts in their individual retirement accounts or annuities to purchase a home without including such amounts in gross income or incurring the penalty for early distributions.

Summary

Amends the Internal Revenue Code to allow the use of distributions from individual retirement accounts and individual retirement annuities for the purchase of a principal home by a first-time homebuyer.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

1. 7 May 1985

   Introduced

   Referred to House Committee on Ways and Means.

   Source: IntroReferral

2. 7 May 1985

   Introduced

   Introduced in House

   Source: IntroReferral

3. 7 May 1985

   Introduced

   Introduced in House

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

No version snapshots stored. Document URLs remain at the source.

Documents

1 official file

• Introduced in House

  summary · EN · 7 May 1985

  Open at official source

Sponsors

• Rep. DioGuardi, Joseph J. [R-NY-20] · R · Sponsor
• Rep. Dornan, Robert K. [R-CA-38] · R · Sponsor
• Rep. Garcia, Robert [D-NY-18] · D · Sponsor
• Rep. Lipinski, William O. [D-IL-5] · D · Sponsor
• Rep. Saxton, Jim [R-NJ-13] · R · Cosponsor
• DON YOUNG · R · Cosponsor
• Rep. Armey, Richard K. [R-TX-26] · R · Cosponsor
• · hswm00 · Standing

Related records

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