3.0.0 4114 2023-01-11T13:29:20Z 2023-01-11T13:29:20Z House HR 2015-11-19 114 [Congressional Record Volume 161, Number 171 (Thursday, November 19, 2015)]From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]By Mr. SEAN PATRICK MALONEY of New York:H.R. 4114.Congress has the power to enact this legislation pursuantto the following:Article 1, Section 8, Clause 18[Page H8413]]]> hswm00 Ways and Means Committee House Standing Referred to 2015-11-19T14:35:35Z 2015-11-19 Referred to the House Committee on Ways and Means. IntroReferral H11100 2 House floor actions hswm00 Ways and Means Committee 2015-11-19 Introduced in House IntroReferral Intro-H 9 Library of Congress 2015-11-19 Introduced in House IntroReferral 1000 9 Library of Congress M001185 Rep. Maloney, Sean Patrick [D-NY-18] Sean Maloney D NY Patrick 18 N R000586 Rep. Renacci, James B. [R-OH-16] James Renacci R OH B. 16 2015-11-19 True C001077 Rep. Coffman, Mike [R-CO-6] Mike Coffman R CO 6 2015-11-19 True S001193 Rep. Swalwell, Eric [D-CA-15] Eric Swalwell D CA 15 2015-11-19 True C001083 Rep. Carney, John C., Jr. [D-DE-At Large] John Carney D DE C. 0 2016-01-25 False B001293 Rep. Bishop, Mike [R-MI-8] Mike Bishop R MI 8 2016-01-25 False C001106 Rep. Costello, Ryan A. [R-PA-6] Ryan Costello R PA A. 6 2016-01-25 False H001055 Rep. Heck, Joseph J. [R-NV-3] Joseph Heck R NV J. 3 2016-02-04 False B001287 Rep. Bera, Ami [D-CA-7] Ami Bera D CA 7 2016-04-27 False K000382 Rep. Kuster, Ann M. [D-NH-2] Ann Kuster D NH M. 2 2016-07-05 False Taxation Employee benefits and pensions Housing finance and home ownership Income tax exclusion Inflation and prices Taxation 00 2015-11-19 Introduced in House 2016-01-22T13:45:48Z 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This bill amends the Internal Revenue Code to increase from $10,000 to $25,000 the maximum amount that may be withdrawn, without penalty, from a qualified retirement plan for purposes of assisting a first-time homebuyer in purchasing a principal residence.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.

]]> First Time Homeowner Savings Plan Act Display Title First Time Homeowner Savings Plan Act Official Title as Introduced To amend the Internal Revenue Code of 1986 to increase the amount that can be withdrawn without penalty from individual retirement plans as first-time homebuyer distributions. Introduced in House IH Short Titles as Introduced First Time Homeowner Savings Plan Act Introduced in House 2015-11-19T05:00:00Z https://www.govinfo.gov/content/pkg/BILLS-114hr4114ih/xml/BILLS-114hr4114ih.xml 2015-11-19 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.