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HR 1062 102th Congress House Taxation Excise tax Home ownership Income tax Tax deductions Trusts and trustees

Home Ownership Plan Encouragement Act

Introduced: February 21, 1991 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
Feb 21, 1991
Referred to the House Committee on Ways and Means.
Feb 21, 1991
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 February 21, 1991

Referred to the House Committee on Ways and Means.

 Committees of jurisdiction 1
 Cosponsors 1
All 1 Democratic 1