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    H.Amdt.437   — 102nd Congress (1991-1992)

    Description Amendment in the nature of a substitute sought to add seven of the President's tax proposals including: 1) excluding from income up to 45 percent of long-term capital gains; 2) providing a tax credit of up to $5,000 for first-time homebuyers; 3) allowing penalty-free IRA withdrawals for first-time homebuyers; 4) providing passive loss relief for real estate developers who materially participate in real estate development; 5) providing an investment tax allowance; 6) simplifying and enhancing alternative minimum tax depreciation; and 7) permitting pension funds to invest in real estate.
    Amends Bill: H.R.4210
    Sponsor: Rep. Archer, Bill [R-TX-7] (Offered 02/27/1992)
    Latest Action: 02/27/92 On agreeing to the Archer amendment (A002) as modified Failed by recorded vote: 166 - 264 (Roll no. 28).