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.

referredUnited States· United States Congress· EN

Introduced

3 January 1989

Last action

3 January 1989 · Introduced

Status

Referred to the House Committee on Ways and Means.

Sponsors

Rep. Lagomarsino, Robert J. [R-CA-19], Rep. Packard, Ron [R-CA-48], Rep. Lent, Norman F. [R-NY-4], Rep. Douglas, Chuck [R-NH-2], Rep. Rowland, John G. [R-CT-5], Rep. Roe, Robert A. [D-NJ-8], Rep. Harris, Claude [D-AL-7], Sen. Smith, Bob [R-NH], Rep. Houghton, Amo [R-NY-31], Rep. Owens, Major R. [D-NY-11], Rep. Solomon, Gerald B. H. [R-NY-22], Rep. Dornan, Robert K. [R-CA-46], Rep. Armey, Richard K. [R-TX-26], Rep. Hastert, J. Dennis [R-IL-14], Rep. Sensenbrenner, F. James, Jr. [R-WI-5], Rep. Duncan, John J., Jr. [R-TN-2], Rep. Rinaldo, Matthew J. [R-NJ-7], Sen. Craig, Larry E. [R-ID], Rep. Gallegly, Elton [R-CA-24], Rep. Tallon, Robert M. (Robin) [D-SC-6], Rep. Bereuter, Doug [R-NE-1], Rep. Martin, Lynn M. [R-IL-16], Rep. Coble, Howard [R-NC-6], Rep. Pursell, Carl D. [R-MI-2], Rep. Whittaker, Bob [R-KS-5], Rep. Fish, Hamilton, Jr. [R-NY-19], Rep. Campbell, Tom [R-CA-15], Rep. Davis, Robert W. [R-MI-11], Rep. Saxton, Jim [R-NJ-3], Rep. Conyers, John, Jr. [D-MI-13], Rep. Luken, Thomas A. [D-OH-1], Rep. Bentley, Helen Delich [R-MD-2], Rep. Eckart, Dennis E. [D-OH-11], Rep. Emerson, Bill [R-MO-8], Rep. Smith, Christopher H. [R-NJ-4], Rep. Ballenger, Cass [R-NC-10], Rep. Gunderson, Steve [R-WI-3], Rep. Cox, Christopher [R-CA-48], Rep. Vucanovich, Barbara F. [R-NV-2]

Subjects

Taxation

Source updated

7 February 2024

Taxation

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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

3 January 1989
Introduced
Referred to the House Committee on Ways and Means.
Source: IntroReferral
3 January 1989
Introduced
Introduced in House
Source: IntroReferral
3 January 1989
Introduced
Introduced in House
Source: IntroReferral

Votes

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Versions

Introduced in House · — · Download file

Documents

2 official files

Introduced in House (text)

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Introduced in House (text)
Introduced in House · EN
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Introduced in House
summary · EN · 3 January 1989
Open at official source
Leesvertaling
Vertaal dit document naar jouw taal. PoliticalRepo bewaart geen aparte kopie per EU-taal.
Vertaal naar
Documentvertaling op verzoek met downloadbare PDF (logo + link naar de officiële bron). Het bronbestand blijft leidend.

Related records

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Sources

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Official source: https://www.congress.gov/bill/101st-congress/house-bill/243
Open data entity: https://api.congress.gov/v3/bill/101/hr/243
us · 101-hr-243 · source updated 7 February 2024