HR 239
101th Congress
House
Taxation
Home ownership
Housing and Community Development
Housing finance
Income tax
Individual retirement accounts
Tax exclusion
First-Time Home Buyer's Act of 1989
Introduced: January 3, 1989
See on congress.gov
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jan 3, 1989
Referred to the House Committee on Ways and Means.
Jan 3, 1989
Introduced in House
Plain-English summary
First-Time Home Buyer's Act of 1989 - Amends the Internal Revenue Code to spread over a ten-year period the taxation of up to $5,000 of individual retirement plan distributions used by a first-time homebuyer within 90 days to purchase, construct, or reconstruct a dwelling that will be used as the taxpayer's principal residence for at least three years.
What's happening now
Referred to the House Committee on Ways and Means.
Committees of jurisdiction
1