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HR 352 102th Congress House

To amend the Internal Revenue Code of 1986 to allow first-time home buyers to make withdrawals from their individual retirement accounts for the purpose of acquiring, constructing, or reconstructing…

Official title: To amend the Internal Revenue Code of 1986 to allow first-time home buyers to make withdrawals from their individual retirement accounts for the purpose of acq… Show full official titleShow less

Official title: To amend the Internal Revenue Code of 1986 to allow first-time home buyers to make withdrawals from their individual retirement accounts for the purpose of acquiring, constructing, or reconstructing a principal residence, without incurring any tax.

Introduced: February 4, 1991 See on congress.gov
Taxation Capital gains taxHome ownershipHousing and Community DevelopmentHousing finance
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Income taxIndividual retirement accountsTax exclusionTax-deferred compensation plans
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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
Jan 3, 1991
Referred to the House Committee on Ways and Means.
Jan 3, 1991
Introduced in House
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 Latest action January 3, 1991

Referred to the House Committee on Ways and Means.

 Plain-English summary Congressional Research Service

Amends the Internal Revenue Code to exclude from the gross income of a first-time homebuyer the amount of any individual retirement plan distributions used within 30 days to purchase, construct, or reconstruct a principal residence. Reduces a residence's basis by the amount of such distribution for purposes of determining gain or loss upon disposition.

 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
 Cosponsors 2
All 2 Democratic 1 Republican 1
R
Smith, Christopher H.
New Jersey · Apr 17, 1991
 D
Wyden, Ron
Oregon · Feb 4, 1991
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APA
U.S. Congress. (2026). H.R. 352: To amend the Internal Revenue Code of 1986 to allow first-time home buyers to make withdrawals from their individual retirement accounts for the purpose of acquiring, constructing, or reconstructing a principal residence, without incurring any tax.. 102nd Congress. Open America. https://openamerica.io/bill/102-HR-352/
MLA
"H.R. 352: To amend the Internal Revenue Code of 1986 to allow first-time home buyers to make withdrawals from their individual retirement accounts for the purpose of acquiring, constructing, or reconstructing a principal residence, without incurring any tax.." 102nd Congress, 2026, Open America, https://openamerica.io/bill/102-HR-352/.
Bluebook (legal)
H.R. 352, 102nd Cong. (2026), https://openamerica.io/bill/102-HR-352/.
Markdown link
[H.R. 352: To amend the Internal Revenue Code of 1986 to allow first-time home buyers to make withdrawals from their individual retirement accounts for the purpose of acquiring, constructing, or reconstructing a principal residence, without incurring any tax.](https://openamerica.io/bill/102-HR-352/)
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