Affordable Housing and First Home Buyer Assistance Act of 1990

Summary

Affordable Housing and First Home Buyer Assistance Act of 1990 - Title I: First Home Ownership Accounts - Amends the Internal Revenue Code of 1986 to permit a personal deduction for specified contributions to a first home ownership account. Treats such account as an individual retirement account upon a first home purchase. Title II: Repeal of Taxation of Gain on Sale of Principal Residence - Amends the Internal Revenue Code of 1986 to repeal the taxation of gain on the sale of a principal residence. Title III: Mortgage Bonds and Credit Certificates - Amends the Internal Revenue Code to extend through 1993 the issue period for qualified mortgage bonds. Title IV: Mortgage Insurance - Amends the National Housing Act with regard to adjustable rate single family mortgages to: (1) increase maximum interest adjustments; and (2) repeal the aggregate fiscal year limit on such insured mortgages and loans. Authorizes a first-time homebuyer downpayment insurance demonstration program. Amends the Federal National Mortgage Association Charter Act to provide a secondary market for downpayment loans. Amends the National Housing Act to authorize insurance for downpayment loans. Amends the National Housing Act to establish minimum Mutual Mortgage Insurance Fund reserves. Title V: Study Regarding Shared Equity Reserves - Directs the Secretary to study and report to the Congress on shared equity mortgages for first-time homebuyers. Authorizes appropriations.

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

Timeline

1. 13 March 1990

   Introduced

   Referred to the House Committee on Ways and Means.

   Source: IntroReferral

2. 13 March 1990

   Introduced

   Introduced in House

   Source: IntroReferral

3. 13 March 1990

   Introduced

   Introduced in House

   Source: IntroReferral

4. 2 April 1990

   Referred

   Referred to the Subcommittee on Housing and Community Development.

   Source: Committee

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 · 13 March 1990

  Open at official source

Sponsors

• Rep. Douglas, Chuck [R-NH-2] · R · Sponsor
• Rep. Bartlett, Steve [R-TX-3] · R · Sponsor
• Rep. Weber, Vin [R-MN-2] · R · Sponsor
• Rep. Gallo, Dean A. [R-NJ-11] · R · Sponsor
• Rep. McEwen, Bob [R-OH-6] · R · Sponsor
• Christopher Smith · R · Sponsor
• Rep. Vucanovich, Barbara F. [R-NV-2] · R · Sponsor
• Rep. Bliley, Tom [R-VA-3] · R · Sponsor
• Rep. Gunderson, Steve [R-WI-3] · R · Sponsor
• Rep. James, Craig T. [R-FL-4] · R · Sponsor
• Rep. Lukens, Donald E. [R-OH-8] · R · Sponsor
• Rep. Paxon, Bill [R-NY-31] · R · Sponsor
• JOHN DUNCAN · R · Sponsor
• Rep. Cox, Christopher [R-CA-40] · R · Sponsor
• Rep. Solomon, Gerald B. H. [R-NY-24] · R · Cosponsor
• F. SENSENBRENNER · R · Cosponsor
• Rep. Hansen, James V. [R-UT-1] · R · Cosponsor
• Rep. Smith, Bob [R-NH-1] · R · Cosponsor
• Rep. Kyl, Jon [R-AZ-4] · R · Cosponsor
• Rep. Smith, Peter [R-VT-At Large] · R · Cosponsor
• Rep. Walsh, James T. [R-NY-27] · R · Cosponsor
• Rep. Goss, Porter J. [R-FL-13] · R · Cosponsor
• Rep. Packard, Ron [R-CA-43] · R · Cosponsor
• Rep. Hastert, J. Dennis [R-IL-14] · R · Cosponsor
• Rep. Inhofe, James M. [R-OK-1] · R · Cosponsor
• Rep. Miller, John R. [R-WA-1] · R · Cosponsor
• Rep. Stump, Bob [R-AZ-3] · R · Cosponsor
• Rep. Wolf, Frank R. [R-VA-10] · R · Cosponsor
• · hsba00 · Standing
• · hswm00 · Standing

Related records

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