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HR 1062 102th Congress House

Home Ownership Plan Encouragement Act

Official title: To amend the Internal Revenue Code of 1986 to provide for the establishment of, and the deduction of contributions to, home ownership plans.

Introduced: February 21, 1991 See on congress.gov
Taxation Excise taxHome ownershipIncome taxTax deductionsTrusts and trustees
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This bill died when the 102nd Congress ended
It never became law before the 102nd Congress (1991–1992) adjourned, and bills don't carry over to the next Congress. It would have to be reintroduced. You can still save it for reference, but it won't receive updates.
 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
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 Latest action February 21, 1991

Referred to the House Committee on Ways and Means.

 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.

 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
 Cosponsors 1
All 1 Democratic 1
D
Norton, Eleanor Holmes
District of Columbia · Jun 12, 1991
Cite this page click to expand
APA
U.S. Congress. (2026). H.R. 1062: Home Ownership Plan Encouragement Act. 102nd Congress. Open America. https://openamerica.io/bill/102-HR-1062/
MLA
"H.R. 1062: Home Ownership Plan Encouragement Act." 102nd Congress, 2026, Open America, https://openamerica.io/bill/102-HR-1062/.
Bluebook (legal)
H.R. 1062, 102nd Cong. (2026), https://openamerica.io/bill/102-HR-1062/.
Markdown link
[H.R. 1062: Home Ownership Plan Encouragement Act](https://openamerica.io/bill/102-HR-1062/)
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