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This bill amends the Internal Revenue Code to increase from $10,000 to $25,000 the maximum amount that may be withdrawn, without penalty, from a qualified retirement plan for purposes of assisting a first-time homebuyer in purchasing a principal residence.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 2018.
| Action Date | Type | Text | Source |
|---|---|---|---|
| 2017-06-07 | IntroReferral | Referred to the House Committee on Ways and Means. | House floor actions |
| 2017-06-07 | IntroReferral | Introduced in House | Library of Congress |