A bill to amend the Internal Revenue Code of 1986 to exclude from income amounts received by an employee from an employer as assistance towards the purchase of a principal residence.

referredUnited States· United States Congress· EN

Introduced

1 August 2002

Last action

1 August 2002 · Introduced

Status

Read twice and referred to the Committee on Finance.

Summary

Amends the Internal Revenue Code to exclude from an eligible employee's gross income amounts paid or incurred by the employer of such employee as part of a homeownership assistance program meeting specified criteria. Sets as a maximum exclusion for one eligible employee an amount equal to 10 percent of the maximum principal obligation for a mortgage insured under the National Housing Act with respect to the residence purchased. Limits participation to first-time homebuyers with incomes below specified levels. Prohibits the exclusion for employees buying residences with prices in excess of 90 percent of the maximum principal obligation for a mortgage insured under the National Housing Act with respect to the residence. Reduces the basis in a residence by the amount of the exclusion.

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Timeline

1 August 2002
Introduced
Read twice and referred to the Committee on Finance.
Source: IntroReferral
1 August 2002
Introduced
Introduced in Senate
Source: IntroReferral

Votes

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Versions

Introduced in Senate · 1 August 2002 · Download file

Documents

3 official files

Introduced in Senate (text)

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Introduced in Senate (text)
Introduced in Senate · EN · 1 August 2002
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Introduced in Senate (PDF)
Introduced in Senate · EN · 1 August 2002
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Introduced in Senate
summary · EN · 1 August 2002
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

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Sources

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Official source: https://www.congress.gov/bill/107th-congress/senate-bill/2881
Open data entity: https://api.congress.gov/v3/bill/107/s/2881
us · 107-s-2881 · source updated 10 February 2026