To amend the Internal Revenue Code of 1986 to allow first-time home buyers to make withdrawals from their individual retirement accounts for the purpose of acquiring, constructing, or reconstructing a principal residence, without incurring any tax.

Summary

Amends the Internal Revenue Code to exclude from the gross income of a first-time homebuyer the amount of any individual retirement plan distributions used within 30 days to purchase, construct, or reconstruct a principal residence.

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

Timeline

1. 3 January 1989

   Introduced

   Referred to the House Committee on Ways and Means.

   Source: IntroReferral

2. 3 January 1989

   Introduced

   Introduced in House

   Source: IntroReferral

3. 3 January 1989

   Introduced

   Introduced in House

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

• Introduced in House · undated · Official file

Documents

2 official files

• Introduced in House (text)

  Introduced in House · EN

  ViewDownloadOpen at official source

• Introduced in House

  summary · EN · 3 January 1989

  Open at official source

Sponsors

• Rep. Lagomarsino, Robert J. [R-CA-19] · R · Sponsor
• Rep. Packard, Ron [R-CA-43] · R · Cosponsor
• Rep. Lent, Norman F. [R-NY-4] · R · Cosponsor
• Rep. Douglas, Chuck [R-NH-2] · R · Cosponsor
• Rep. Rowland, John G. [R-CT-5] · R · Cosponsor
• Rep. Roe, Robert A. [D-NJ-8] · D · Cosponsor
• Rep. Harris, Claude [D-AL-7] · D · Cosponsor
• Rep. Smith, Bob [R-NH-1] · R · Cosponsor
• Rep. Houghton, Amo [R-NY-34] · R · Cosponsor
• Rep. Owens, Major R. [D-NY-12] · D · Cosponsor
• Rep. Solomon, Gerald B. H. [R-NY-24] · R · Cosponsor
• Rep. Dornan, Robert K. [R-CA-38] · R · Cosponsor
• Rep. Armey, Richard K. [R-TX-26] · R · Cosponsor
• Rep. Hastert, J. Dennis [R-IL-14] · R · Cosponsor
• F. SENSENBRENNER · R · Cosponsor
• JOHN DUNCAN · R · Cosponsor
• Rep. Rinaldo, Matthew J. [R-NJ-12] · R · Cosponsor
• Rep. Craig, Larry E. [R-ID-1] · R · Cosponsor
• Rep. Gallegly, Elton [R-CA-21] · R · Cosponsor
• Rep. Tallon, Robert M. (Robin) [D-SC-6] · D · Cosponsor
• Rep. Bereuter, Doug [R-NE-1] · R · Cosponsor
• Rep. Martin, Lynn M. [R-IL-16] · R · Cosponsor
• Rep. Coble, Howard [R-NC-6] · R · Cosponsor
• Rep. Pursell, Carl D. [R-MI-2] · R · Cosponsor
• Rep. Whittaker, Bob [R-KS-5] · R · Cosponsor
• Rep. Fish, Hamilton, Jr. [R-NY-25] · R · Cosponsor
• Rep. Campbell, Tom [R-CA-12] · R · Cosponsor
• Rep. Davis, Robert W. [R-MI-11] · R · Cosponsor
• Rep. Saxton, Jim [R-NJ-13] · R · Cosponsor
• JOHN CONYERS · D · Cosponsor
• Rep. Luken, Thomas A. [D-OH-1] · D · Cosponsor
• Rep. Bentley, Helen Delich [R-MD-2] · R · Cosponsor
• Rep. Eckart, Dennis E. [D-OH-11] · D · Cosponsor
• Rep. Emerson, Bill [R-MO-8] · R · Cosponsor
• Christopher Smith · R · Cosponsor
• Rep. Ballenger, Cass [R-NC-10] · R · Cosponsor
• Rep. Gunderson, Steve [R-WI-3] · R · Cosponsor
• Rep. Cox, Christopher [R-CA-40] · R · Cosponsor
• Rep. Vucanovich, Barbara F. [R-NV-2] · R · Cosponsor
• · hswm00 · Standing

Related records

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