Summary: H.R.4114 — 114th Congress (2015-2016)All Information (Except Text)

There is one summary for H.R.4114. Bill summaries are authored by CRS.

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Introduced in House (11/19/2015)

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This bill amends the Internal Revenue Code to increase from $10,000 to $25,000 the maximum amount that may be withdrawn, without penalty, from a qualified retirement plan for purposes of assisting a first-time homebuyer in purchasing a principal residence.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 2015.