Summary: H.R.3663 — 102nd Congress (1991-1992)All Information (Except Text)

There is one summary for H.R.3663. Bill summaries are authored by CRS.

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Introduced in House (10/29/1991)

Amends the Internal Revenue Code to allow penalty-free distributions from eligible individual retirement plans for: (1) qualified first-time home purchases; (2) qualified higher education expenses; (3) a period of involuntary unemployment; and (4) certain medical expenses. Increases the income limitation on the deduction for retirement savings. Provides a cost-of-living adjustment for the maximum allowable contribution.