HR 5776
110th Congress
House
Taxation
Housing and Community Development
Housing finance
Income tax
Individual retirement accounts
Labor and Employment
Mortgages
Pension funds
Tax exclusion
Tax penalties
Homeowner Empowerment Act of 2008
Introduced: April 10, 2008
See on congress.gov
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Apr 10, 2008
Referred to the House Committee on Ways and Means.
Apr 10, 2008
Introduced in House
Plain-English summary
Homeowner Empowerment Act of 2008 - Amends the Internal Revenue Code to: (1) exclude from gross income distributions from individual retirement plans and other qualified retirement plans for payments on the mortgage of a taxpayer's principal residence; (2) require repayments of amounts distributed from such retirement plans over a 12-year period; and (3) waive the 10% penalty on premature distributions from retirement plans for distributions used to pay a mortgage.
What's happening now
Referred to the House Committee on Ways and Means.
Committees of jurisdiction
1