Homeowners Incentive Act

Summary

Homeowners Incentive Act - Individual Housing Account Act - Amends the Internal Revenue Code to allow individuals a limited income tax deduction for contributions paid into savings plans established for purchasing their principal residences. Limits the income taxation of such plans to that imposed on unrelated business income of charitable organizations. Makes distributions from such plans tax free if used exclusively in connection with purchasing a principal residence for the distributee.

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

Timeline

1. 9 May 1977

   Introduced

   Referred to House Committee on Ways and Means.

   Source: IntroReferral

2. 9 May 1977

   Introduced

   Introduced in House

   Source: IntroReferral

3. 9 May 1977

   Introduced

   Introduced in House

   Source: IntroReferral

Votes

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Versions

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Documents

1 official file

• Introduced in House

  summary · EN · 9 May 1977

  Open at official source

Sponsors

• Rep. Thone, Charles [R-NE-1] · R · Sponsor
• · hswm00 · Standing

Related records

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