HR 3278
101th Congress
House
Housing and Community Development
Government trust funds
Home ownership
Housing finance
Income tax
Individual retirement accounts
Rental housing
Residential rehabilitation
Tax exclusion
Homebuyers and Renters Relief Act of 1989
Introduced: September 14, 1989
Introduced by:
Schumer, Charles E.
Democratic
· New York
See on congress.gov
Everywhere this bill has been
4 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Oct 1, 1989
Referred to the Subcommittee on Housing and Community Development.
Sep 14, 1989
Referred to the House Committee on Banking, Finance + Urban Affrs.
Sep 14, 1989
Referred to the House Committee on Ways and Means.
Sep 14, 1989
Introduced in House
Plain-English summary
Homebuyers and Renters Relief Act of 1989 - Title I: Tax Exclusion for Distributions for First-Time Home Purchase - Amends the Internal Revenue Code to exclude from gross income certain retirement plan (individual retirement accounts, defined contribution plans) distributions used for a first-time home purchase.
Title II: Rental Housing Production - Authorizes the Secretary of Housing and Urban Development to make repayable advances to public and private sector project sponsors for rental housing construction and rehabilitation.
Establishes in the Treasury the Rental Housing Production Fund.
What's happening now
Referred to the Subcommittee on Housing and Community Development.
Committees of jurisdiction
3
Cosponsors
1