HR 1074
102th Congress
House
Taxation
Educational finance
Health
Higher education
Home ownership
Housing finance
Income tax
Individual retirement accounts
Medical economics
Tax deductions
Individual Retirement Options Improvement Act of 1991
Introduced: February 21, 1991
Introduced by:
Neal, Richard E.
Democratic
· Massachusetts
See on congress.gov
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
Individual Retirement Options Improvement Act of 1991 - Amends the Internal Revenue Code to exempt from the ten percent penalty tax on early distributions from qualified retirement plans: (1) first-time homebuyer distributions; (2) qualified higher education expenses; and (3) qualified catastrophic illness expenses.
Allows an additional deduction for 50 percent of the contributions made to individual retirement plans.
What's happening now
Referred to the House Committee on Ways and Means.
Committees of jurisdiction
1