3.0.0 7645 2023-01-11T13:45:55Z 2023-01-11T13:45:55Z House HR 2020-07-16 116 [Congressional Record Volume 166, Number 126 (Thursday, July 16, 2020)][House]From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]By Mr. SEAN PATRICK MALONEY of New York:H.R. 7645.Congress has the power to enact this legislation pursuantto the following:Article 1, Section 8[Page H3091]]]> hswm00 Ways and Means Committee House Standing hswm01 Social Security Subcommittee Referred to 2020-07-16T14:08:25Z Referred to 2020-07-16T16:01:45Z 2020-07-16 Referred to the House Committee on Ways and Means. IntroReferral H11100 2 House floor actions hswm00 Ways and Means Committee 2020-07-16 hswm01 Social Security Subcommittee 1 House committee actions Referred to the Subcommittee on Social Security. Committee 2020-07-16 Introduced in House IntroReferral Intro-H 9 Library of Congress 2020-07-16 Introduced in House IntroReferral 1000 9 Library of Congress M001185 Rep. Maloney, Sean Patrick [D-NY-18] Sean Maloney D NY Patrick 18 N H001081 Rep. Hayes, Jahana [D-CT-5] Jahana Hayes D CT 5 2020-07-23 False S001204 Del. San Nicolas, Michael F. Q. [D-GU-At Large] Michael San Nicolas D GU F. Q. 0 2020-08-11 False 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 Taxation 00 2020-07-16 Introduced in House 2020-08-11T14:41:37Z 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.

]]> First Time Homebuyer Pandemic Savings Act Display Title First Time Homebuyer Pandemic Savings Act Official Title as Introduced To extend the time period for making coronavirus-related distributions from retirement plans and to provide an exclusion from gross income of coronavirus-related distributions which are first-time homebuyer distributions. Introduced in House IH Short Title(s) as Introduced First Time Homebuyer Pandemic Savings Act Introduced in House IH Introduced in House 2020-07-16T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-116hr7645ih/xml/BILLS-116hr7645ih.xml 2020-07-16 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.