Skip to main content
HR 4114 114th Congress House

First Time Homeowner Savings Plan Act

Official title: To amend the Internal Revenue Code of 1986 to increase the amount that can be withdrawn without penalty from individual retirement plans as first-time homebuyer distributions.

Introduced: April 27, 2016 See on congress.gov
Taxation Employee benefits and pensionsHousing finance and home ownershipIncome tax exclusionInflation and prices
Sign in to write a letter Sign in to watch
This bill died when the 114th Congress ended
It never became law before the 114th Congress (2015–2016) 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
Nov 19, 2015
Referred to the House Committee on Ways and Means.
Nov 19, 2015
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.

 Latest action November 19, 2015

Referred to the House Committee on Ways and Means.

 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This bill amends the Internal Revenue Code to increase from $10,000 to $25,000 the maximum amount that may be withdrawn, without penalty, from a qualified retirement plan for purposes of assisting a first-time homebuyer in purchasing a principal residence.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.

 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
 Cosponsors 4
All 4 Democratic 1
D
Bera, Ami
California · Apr 27, 2016
Bishop, Mike
· Jan 25, 2016
Costello, Ryan
· Jan 25, 2016
Renacci, James
· Nov 19, 2015
Cite this page click to expand
APA
U.S. Congress. (2026). H.R. 4114: First Time Homeowner Savings Plan Act. 114th Congress. Open America. https://openamerica.io/bill/114-HR-4114/
MLA
"H.R. 4114: First Time Homeowner Savings Plan Act." 114th Congress, 2026, Open America, https://openamerica.io/bill/114-HR-4114/.
Bluebook (legal)
H.R. 4114, 114th Cong. (2026), https://openamerica.io/bill/114-HR-4114/.
Markdown link
[H.R. 4114: First Time Homeowner Savings Plan Act](https://openamerica.io/bill/114-HR-4114/)
Report a problem