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HR 243 101th Congress House Taxation Home ownership Housing and Community Development Housing finance Income tax Individual retirement accounts Tax exclusion

To amend the Internal Revenue Code of 1986 to allow first-time home buyers to make withdrawals from their individual retirement accounts for the purpose of acquiring, constructing, or reconstructing a principal residence, without incurring any tax.

Introduced: January 3, 1989 See on congress.gov
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 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 Congressional Research Service

Amends the Internal Revenue Code to exclude from the gross income of a first-time homebuyer the amount of any individual retirement plan distributions used within 30 days to purchase, construct, or reconstruct a principal residence.

What's happening now January 3, 1989

Referred to the House Committee on Ways and Means.

 Committees of jurisdiction 1
 Cosponsors 1
All 1 Republican 1