3.0.0 339 2022-02-03T05:36:13Z 2022-02-03T05:36:13Z House H HR 2005-01-25 109 hswm00 Ways and Means Committee House Standing Referred to 2005-01-25T19:01:20Z 2005-01-25 Referred to the House Committee on Ways and Means. IntroReferral H11100 2 House floor actions hswm00 Ways and Means Committee 2005-01-25 Introduced in House IntroReferral Intro-H 9 Library of Congress 2005-01-25 Introduced in House IntroReferral 1000 9 Library of Congress M000388 Rep. McCrery, Jim [R-LA-4] JIM MCCRERY R LA 4 N J000082 Rep. Jenkins, William L. [R-TN-1] WILLIAM JENKINS R TN L. 1 2005-03-03 False F000452 Resident Commissioner Fortuno, Luis G. [R-PR-At Large] Luis Fortuno R PR G. 0 2005-04-05 False E000187 Rep. English, Phil [R-PA-3] PHIL ENGLISH R PA 3 2005-04-06 False K000364 Rep. Kuhl, John R. "Randy", Jr. [R-NY-29] John Kuhl R NY R. "Randy" 29 2005-04-06 False H000067 Rep. Hall, Ralph M. [R-TX-4] RALPH HALL R TX M. 4 2005-04-12 False M001144 Rep. Miller, Jeff [R-FL-1] Jeff Miller R FL 1 2005-04-12 False D000168 Rep. Deal, Nathan [R-GA-10] NATHAN DEAL R GA 10 2005-04-12 False S000244 Rep. Sensenbrenner, F. James, Jr. [R-WI-5] F. SENSENBRENNER R WI JAMES 5 2005-04-13 False M001157 Rep. McCaul, Michael T. [R-TX-10] Michael McCaul R TX T. 10 2005-04-26 False W000267 Rep. Weldon, Dave [R-FL-15] DAVE WELDON R FL 15 2005-04-28 False P000583 Rep. Paul, Ron [R-TX-14] RON PAUL R TX 14 2005-05-17 False B001246 Rep. Bradley, Jeb [R-NH-1] Jeb Bradley R NH 1 2006-09-19 False Taxation Bank accounts Capital gains tax Economics and Public Finance Estate tax Finance and Financial Sector Government Operations and Politics Government paperwork Home ownership Housing and Community Development Housing finance Income tax Indexing (Economic policy) Law Tax deductions Tax deferral Tax exclusion Tax penalties Trusts and trustees Taxation 00 2005-01-25 Introduced in House 2005-02-07T22:17:40Z Individual Investment Account Act of 2005 - Amends the Internal Revenue Code to allow an individual taxpayer a tax deduction from gross income (whether or not the taxpayer itemizes deductions) for cash contributions to an individual investment account. Permits tax free distributions up to $15,000 from such accounts for the purchase of a principal residence by a first-time homebuyer. Allows an annual inflation adjustment to the $15,000 limit beginning in 2006.

Excludes individual investment accounts from the calculation of the gross estate for estate tax purposes.

Excludes from gross income gain from the sale of a principal residence if such gain is reinvested in an individual investment account.

]]> Individual Investment Account Act of 2005 Short Titles as Introduced Individual Investment Account Act of 2005 Display Title Individual Investment Account Act of 2005 Official Title as Introduced To amend the Internal Revenue Code of 1986 to allow a deduction for contributions to individual investment accounts, and for other purposes. Introduced in House 2005-01-25T05:00:00Z https://www.govinfo.gov/content/pkg/BILLS-109hr339ih/xml/BILLS-109hr339ih.xml 2005-01-25 Referred to the House Committee on Ways and Means. text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.