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Titles Actions Overview All Actions Cosponsors Committees Related Bills Subjects Latest Summary All Summaries

Titles (2)

Short Titles

Short Titles - Senate

Short Titles as Introduced

First-Time Homebuyer Opportunity Act of 1989

Official Titles

Official Titles - Senate

Official Titles as Introduced

A bill to amend the Internal Revenue Code of 1986 to permit individuals to receive tax-free distributions from an individual retirement account or annuity to purchase their first home, and for other purposes.


Actions Overview (1)

Date
01/25/1989Introduced in Senate

All Actions (1)

Date
01/25/1989Read twice and referred to the Committee on Finance.
Action By: Senate

Cosponsors (1)

* = Original cosponsor
CosponsorDate Cosponsored
Sen. Bumpers, Dale [D-AR] 02/07/1989

Committees (1)

Committees, subcommittees and links to reports associated with this bill are listed here, as well as the nature and date of committee activity and Congressional report number.

Committee / Subcommittee Date Activity Reports
Senate Finance01/25/1989 Referred to

No related bill information was received for S.257.


Subjects (7)


Latest Summary (1)

There is one summary for S.257. View summaries

Shown Here:
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.