H.R. 2929 · 113th Congress
Creating Homeownership Opportunity Act of 2013
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Never voted on. It didn't reach a floor vote before the 113th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
D
CarneySponsor3 cosponsors · 1 D, 2 R
3 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
Creating Homeownership Opportunity Act of 2013 - Amends the Internal Revenue Code to establish tax-exempt housing equity savings accounts to assist individual taxpayers under the age of 55 in paying the costs of acquiring, constructing, or reconstructing a principal residence.
What it does: CRS summary · Introduced in House · Aug 1, 2013
Creating Homeownership Opportunity Act of 2013 - Amends the Internal Revenue Code to establish tax-exempt housing equity savings accounts to assist individual taxpayers under the age of 55 in paying the costs of acquiring, constructing, or reconstructing a principal residence. Allows: (1) a deduction from gross income for cash contributions to such accounts for the lesser of $10,000 or the compensation includible in the taxpayer's gross income for a taxable year, (2) an exclusion from gross income of amounts distributed from such accounts that are used by an account beneficiary to purchase a principal residence or make payments to such beneficiary's individual retirement account (IRA), and (3) a tax-free rollover of account funds into an IRA if an account beneficiary reaches age 55 or has maintained an account for 20 years without purchasing a residence.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Creating Homeownership Opportunity Act of 2013
Latest action (Aug 1, 2013): Referred to the House Committee on Ways and Means.
Policy area: Taxation · Origin: House · Introduced: Aug 1, 2013
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.