Individual Investment Account Act of 1998

Summary

Individual Investment Account Act of 1998 - Amends the Internal Revenue Code to allow a deduction for amounts contributed to individual investment accounts. Allows tax-free distributions, limited to $20,000 for all taxable years, from such accounts for use in the purchase of a principal residence by a first-time homebuyer. Makes such accounts tax-exempt unless the individual engages in prohibited transactions. Adjusts dollar limitations under this Act for inflation. Allows such deduction in determining adjusted gross income. Exempts such accounts from estate tax. Provides for adjusting the basis of a residence acquired through the use of an individual investment account.

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Timeline

1. 18 March 1998

   Introduced

   Referred to the House Committee on Ways and Means.

   Source: IntroReferral

2. 18 March 1998

   Introduced

   Introduced in House

   Source: IntroReferral

3. 18 March 1998

   Introduced

   Introduced in House

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

• Introduced in House · 18 March 1998 · Download file

Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 18 March 1998

  ViewDownloadOpen at official source

• Introduced in House (PDF)

  Introduced in House · EN · 18 March 1998

  ViewDownloadOpen at official source

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  Vertaal document

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• Introduced in House

  summary · EN · 18 March 1998

  Open at official source

  Leesvertaling

  Vertaal dit document naar jouw taal. PoliticalRepo bewaart geen aparte kopie per EU-taal.

  Vertaal naarNL · DutchDE · GermanFR · FrenchES · SpanishIT · ItalianPL · PolishPT · PortugueseSV · SwedishDA · DanishFI · FinnishEL · GreekCS · CzechHU · HungarianRO · RomanianBG · BulgarianHR · CroatianSK · SlovakSL · SlovenianLT · LithuanianLV · LatvianET · EstonianGA · IrishMT · Maltese

  Vertaal document

  Documentvertaling op verzoek met downloadbare PDF (logo + link naar de officiële bron). Het bronbestand blijft leidend.

Sponsors

• Rep. McCrery, Jim [R-LA-4] · R · Sponsor
• Rep. English, Phil [R-PA-3] · R · Sponsor
• Rep. Baker, Richard H. [R-LA-6] · R · Sponsor
• Rep. Solomon, Gerald B. H. [R-NY-22] · R · Sponsor
• Rep. Herger, Wally [R-CA-2] · R · Sponsor
• Rep. John, Christopher [D-LA-7] · D · Sponsor
• Rep. Sensenbrenner, F. James, Jr. [R-WI-5] · R · Sponsor
• Rep. Tauzin, W. J. (Billy) [R-LA-3] · R · Sponsor
• Rep. Houghton, Amo [R-NY-31] · R · Sponsor
• Rep. Armey, Richard K. [R-TX-26] · R · Sponsor
• Rep. Cooksey, John [R-LA-5] · R · Cosponsor
• Rep. Livingston, Bob [R-LA-1] · R · Cosponsor
• Rep. Jefferson, William J. [D-LA-2] · D · Cosponsor
• · hswm00 · Standing

Related records

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