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 1991

Last action

3 January 1991 · Introduced

Status

Referred to the House Committee on Ways and Means.

Sponsors

Rep. Lagomarsino, Robert J. [R-CA-19], Rep. Goss, Porter J. [R-FL-14], Rep. Hunter, Duncan [R-CA-52], Sen. Wyden, Ron [D-OR], Rep. Livingston, Bob [R-LA-1], Rep. Horton, Frank J. [R-NY-29], Rep. Gilman, Benjamin A. [R-NY-20], Rep. Stearns, Cliff [R-FL-6], Rep. Lent, Norman F. [R-NY-4], Rep. Combest, Larry [R-TX-19], Rep. Moran, James P. [D-VA-8], Rep. Machtley, Ronald K. [R-RI-1], Rep. Bonior, David E. [D-MI-10], Rep. Ballenger, Cass [R-NC-10], Rep. Dornan, Robert K. [R-CA-46], Rep. Rhodes, John J., III [R-AZ-1], Rep. Solomon, Gerald B. H. [R-NY-22], Rep. Bustamante, Albert G. [D-TX-23], Sen. Kyl, Jon [R-AZ], Rep. Jefferson, William J. [D-LA-2], Rep. Applegate, Douglas [D-OH-18], Rep. Lancaster, H. Martin [D-NC-3], Rep. Byron, Beverly B. [D-MD-6], Rep. Gallo, Dean A. [R-NJ-11], Rep. Doolittle, John T. [R-CA-4], Rep. Bereuter, Doug [R-NE-1], Rep. Washington, Craig A. [D-TX-18], Rep. Walsh, James T. [R-NY-25], Rep. Towns, Edolphus [D-NY-10], Rep. Ritter, Don [R-PA-15], Rep. Burton, Dan [R-IN-5], Rep. Meyers, Jan [R-KS-3], Rep. Herger, Wally [R-CA-2], Rep. Roe, Robert A. [D-NJ-8], Sen. Thomas, Craig [R-WY], Rep. Gallegly, Elton [R-CA-24], Rep. Zeliff, William H., Jr. [R-NH-1], Rep. Fish, Hamilton, Jr. [R-NY-19], Rep. Coughlin, Lawrence [R-PA-13], Rep. Sisisky, Norman [D-VA-4], Rep. McNulty, Michael R. [D-NY-23], Rep. Smith, Christopher H. [R-NJ-4], Rep. Coble, Howard [R-NC-6], Rep. Cox, Christopher [R-CA-48], Rep. Campbell, Tom [R-CA-15], Rep. Clinger, William F., Jr. [R-PA-5], Rep. Lewis, Jerry [R-CA-41]

Subjects

Taxation

Source updated

7 February 2024

Taxation

Official source Download file View documents Share

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. Reduces a residence's basis by the amount of such distribution for purposes of determining gain or loss upon disposition.

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

Timeline

3 January 1991
Introduced
Referred to the House Committee on Ways and Means.
Source: IntroReferral
3 January 1991
Introduced
Introduced in House
Source: IntroReferral
3 January 1991
Introduced
Introduced in House
Source: IntroReferral

Votes

No vote records are attached yet.

Versions

Introduced in House · — · Download file

Documents

2 official files

Introduced in House (text)

View file Download file

This file cannot be previewed here. Use View or Download.

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.

Introduced in House (text)
Introduced in House · EN
View Download Open at official source
Introduced in House
summary · EN · 3 January 1991
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

No cross-record relationships stored yet.

Sources

PoliticalRepo is an index and interpretation layer, not the authoritative legal source.

Official source: https://www.congress.gov/bill/102nd-congress/house-bill/352
Open data entity: https://api.congress.gov/v3/bill/102/hr/352
us · 102-hr-352 · source updated 7 February 2024