All Information (Except Text) for S.257 - First-Time Homebuyer Opportunity Act of 1989101st Congress (1989-1990)
|Sponsor:||Sen. Riegle, Donald W., Jr. [D-MI] (Introduced 01/25/1989)|
|Committees:||Senate - Finance|
|Latest Action:||Senate - 01/25/1989 Read twice and referred to the Committee on Finance. (All Actions)|
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Titles Actions Overview All Actions Cosponsors Committees Related Bills Subjects Latest Summary All Summaries
Short Titles - Senate
Short Titles as Introduced
First-Time Homebuyer Opportunity Act of 1989
Actions Overview (1)
|01/25/1989||Introduced in Senate|
01/25/1989 Introduced in Senate
All Actions (1)
|01/25/1989||Read twice and referred to the Committee on Finance.|
Action By: Senate
01/25/1989 Read twice and referred to the Committee on Finance.
|Sen. Bumpers, Dale [D-AR]||02/07/1989|
|Committee / Subcommittee||Date||Activity||Reports|
|Senate Finance||01/25/1989||Referred to|
Subject — Policy Area:
One Policy Area term, which best describes an entire measure, is assigned to every public bill or resolution.
Latest Summary (1)
Introduced in Senate (01/25/1989)
First-Time Homebuyer Opportunity Act of 1989 - Amends the Internal Revenue Code to exclude from the gross income of a first-time homebuyer up to $10,000 of individual retirement plan distributions used within 90 days to acquire a principal residence. Requires that amounts equal to the distributions in question be paid into the affected account at least 12 months prior to the purchase of the home.