Skip to main content
HR 1040 104th Congress House Taxation Collection of accounts College costs Cost of living adjustments Economics and Public Finance Education Educational finance Families Finance and Financial Sector Higher education Home ownership Housing and Community Development Housing finance Income tax Indexing (Economic policy) Individual retirement accounts Interest Interest rates Labor and Employment Married people

Family Reinvestment Act of 1995

Introduced: February 24, 1995 See on congress.gov
Sign in to write a letter Sign in to watch
This bill died when the 104th Congress ended
It never became law before the 104th Congress (1995–1996) 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 24, 1995
Referred to the House Committee on Ways and Means.
Feb 24, 1995
Introduced in House
 Ask about this bill AI · grounded in the bill text

Have a question about what this bill does? Ask in plain English; the answer is drawn from the bill's actual text and official record, and it'll tell you when something isn't in the text rather than guess.

AI answers can be imperfect; always confirm against the full bill text.

 Plain-English summary Congressional Research Service

Family Reinvestment Act of 1995 - Amends the Internal Revenue Code to increase the retirement savings deduction and the maximum individual retirement account contribution from $2,000 to $2,500. Raises income phase-out limits. Allows such a deduction for nonemployed spouses. Provides an inflation adjustment for retirement savings deductions.

Excludes from gross income qualified distributions from certain retirement plans for first-time homebuyers and higher education expenses of the taxpayer, spouse, or child. Requires the repayment of such amounts with interest.

What's happening now February 24, 1995

Referred to the House Committee on Ways and Means.

 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
 Cosponsors 2
All 2 Republican 2
R
Calvert, Ken
California · Feb 24, 1995
 R
Wicker, Roger F.
Mississippi · Feb 24, 1995
Cite this page click to expand
APA
U.S. Congress. (2026). H.R. 1040: Family Reinvestment Act of 1995. 104th Congress. Open America. https://openamerica.io/bill/104-HR-1040/
MLA
"H.R. 1040: Family Reinvestment Act of 1995." 104th Congress, 2026, Open America, https://openamerica.io/bill/104-HR-1040/.
Bluebook (legal)
H.R. 1040, 104th Cong. (2026), https://openamerica.io/bill/104-HR-1040/.
Markdown link
[H.R. 1040: Family Reinvestment Act of 1995](https://openamerica.io/bill/104-HR-1040/)
Report a problem