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HR 4114 114th Congress House Taxation Employee benefits and pensions Housing finance and home ownership Income tax exclusion Inflation and prices

First Time Homeowner Savings Plan Act

Introduced: November 19, 2015 See on congress.gov
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 Everywhere this bill has been 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Nov 19, 2015
Referred to the House Committee on Ways and Means.
Nov 19, 2015
Introduced in House
 Plain-English summary Congressional Research Service

First Time Homeowner Savings Plan Act

This bill amends the Internal Revenue Code to increase from $10,000 to $25,000 the maximum amount that may be withdrawn, without penalty, from a qualified retirement plan for purposes of assisting a first-time homebuyer in purchasing a principal residence. This increased distribution amount shall be adjusted annually for inflation for taxable years beginning after 2015.

What's happening now November 19, 2015

Referred to the House Committee on Ways and Means.

 Committees of jurisdiction 1
 Cosponsors 1
All 1 Democratic 1