H.R. 4114 · 114th Congress
First Time Homeowner Savings Plan Act
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Never voted on. It didn't reach a floor vote before the 114th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
D
MaloneySponsor9 cosponsors · 4 D, 5 R
R
Coffman
JR
R
Renacci
ES
D
Swalwell
MB
R
Bishop
JC
D
Carney
RC
R
Costello
JH
R
Heck
AB
D
Bera
AK
D
Kuster3 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
This bill amends the Internal Revenue Code to increase from $10,000 to $25,000 the maximum amount that may be withdrawn, without penalty, from a qualified retirement plan for purposes of assisting a first-time homebuyer in purchasing a principal residence.
What it does: CRS summary · Introduced in House · Nov 19, 2015
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This bill amends the Internal Revenue Code to increase from $10,000 to $25,000 the maximum amount that may be withdrawn, without penalty, from a qualified retirement plan for purposes of assisting a first-time homebuyer in purchasing a principal residence.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.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: First Time Homeowner Savings Plan Act
Latest action (Nov 19, 2015): Referred to the House Committee on Ways and Means.
Policy area: Taxation · Origin: House · Introduced: Nov 19, 2015
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.