HR 876
106th Congress
House
Taxation
College costs
Cost of living adjustments
Economics and Public Finance
Education
Educational finance
Families
Finance and Financial Sector
Grandparents
Health
Health insurance
Higher education
Home ownership
Housing and Community Development
Housing finance
Income
Income tax
Indexing (Economic policy)
Individual retirement accounts
Insurance premiums
To amend the Internal Revenue Code of 1986 to increase the maximum amount of contributions to individual retirement accounts and the amounts of adjusted gross income at which the IRA deduction phases out for active participants in pension plans, and to allow penalty-free distributions from individual retirement accounts and 401(k) plans for certain purposes.
Introduced: February 25, 1999
See on congress.gov
Everywhere this bill has been
3 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Mar 2, 1999
Sponsor introductory remarks on measure. (CR E314)
Feb 25, 1999
Referred to the House Committee on Ways and Means.
Feb 25, 1999
Introduced in House
Plain-English summary
Amends the Internal Revenue Code to increase the: (1) maximum deduction for individual retirement account contributions; and (2) income amount at which phase-out of that deduction begins. Exempts certain retirement account distributions (first homes, higher education expenses, unemployment, and medical) from the early distribution penalty.
What's happening now
Sponsor introductory remarks on measure. (CR E314)
Committees of jurisdiction
1
Cosponsors
1