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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
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This bill died when the 116th Congress ended
It never became law before the 116th Congress (2019–2020) 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 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
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 Plain-English summary Congressional Research Service

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 July 16, 2020

Referred to the House Committee on Ways and Means.

 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 2
 Cosponsors 1
All 1 Democratic 1
D
Hayes, Jahana
Connecticut · Jul 23, 2020
Cite this page click to expand
APA
U.S. Congress. (2026). H.R. 7645: First Time Homebuyer Pandemic Savings Act. 116th Congress. Open America. https://openamerica.io/bill/116-HR-7645/
MLA
"H.R. 7645: First Time Homebuyer Pandemic Savings Act." 116th Congress, 2026, Open America, https://openamerica.io/bill/116-HR-7645/.
Bluebook (legal)
H.R. 7645, 116th Cong. (2026), https://openamerica.io/bill/116-HR-7645/.
Markdown link
[H.R. 7645: First Time Homebuyer Pandemic Savings Act](https://openamerica.io/bill/116-HR-7645/)
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