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United States · Bill · S

S. 2463 (99th)

First-Time Homebuyer Opportunity Act of 1986

referredUnited States· United States Congress· EN

Introduced

15 May 1986

Last action

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Status

Read twice and referred to the Committee on Finance.

Sponsors

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Subjects

Discovery layer

Source updated

29 August 2025

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Summary

First-Time Homebuyer Opportunity Act of 1986 - Amends the Internal Revenue Code to allow distributions from an individual retirement account or annuity to be used to purchase a home by a first-time homebuyer. Limits the amount of such a distribution to a $10,000 aggregate maximum. Defines a "first-time homebuyer" as any individual who has had no present ownership interest in a principal residence during the three-year period prior to the purchase of the principal residence for which individual retirement account distributions are used.

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Documents

1 official file

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