HR 7645
116th Congress
House
Taxation
Cardiovascular and respiratory health
Emergency medical services and trauma care
Employee benefits and pensions
Housing finance and home ownership
Income tax deferral
Income tax exclusion
Infectious and parasitic diseases
First Time Homebuyer Pandemic Savings Act
Introduced: July 16, 2020
See on congress.gov
Everywhere this bill has been
3 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jul 16, 2020
Referred to the House Committee on Ways and Means.
Jul 16, 2020
Referred to the Subcommittee on Social Security.
Jul 16, 2020
Introduced in House
Plain-English summary
First Time Homebuyer Pandemic Savings Act
This bill extends for one year the exemption from the penalty for early distributions from tax-preferred retirement plans for distributions related to COVID-19 (i.e., coronavirus disease 2019). It also excludes from gross income COVID-19-related distributions which are first-time homebuyer distributions up to $25,000 in a taxable year.
What's happening now
Referred to the House Committee on Ways and Means.
Committees of jurisdiction
2
Cosponsors
1