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HR 2671 101th Congress House Taxation Excise tax Home ownership Income tax Tax deductions Tax incentives Trusts and trustees

Home Ownership Plan Encouragement Act

Introduced: June 15, 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
Jun 15, 1989
Referred to the House Committee on Ways and Means.
Jun 15, 1989
Introduced in House
 Plain-English summary Congressional Research Service

Home Ownership Plan Encouragement Act - Amends the Internal Revenue Code to allow individuals a tax deduction for amounts paid to a home ownership plan for the purchase of a first home. Limits the duration of such deduction to five years. Provides for the imposition of an excise tax on excess contributions to such plan. Requires a penalty payment for failure to provide timely reports on such plan.

What's happening now June 15, 1989

Referred to the House Committee on Ways and Means.

 Committees of jurisdiction 1
 Cosponsors 1
All 1 Democratic 1