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114-hr-4114114th Congress

First Time Homeowner Savings Plan Act

Sponsored By: Representative Maloney, Sean Patrick [D-NY-18]

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Summary

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Plan Act This bill amends the Internal Revenue Code to increase from $10,000 to $25,000 the maximum amount that may be withdrawn, without penalty, from a qualified retirement plan for purposes of assisting a first-time homebuyer in purchasing a principal residence.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

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Bill Overview

No Economic Impacts Identified for this Bill

Sponsors & CoSponsors

Sponsor

Maloney, Sean Patrick [D-NY-18]

NY • D

Cosponsors

  • Rep. Renacci, James B. [R-OH-16]

    OH • R

    Sponsored 11/19/2015

  • Rep. Coffman, Mike [R-CO-6]

    CO • R

    Sponsored 11/19/2015

  • Rep. Swalwell, Eric [D-CA-14]

    CA • D

    Sponsored 11/19/2015

  • Rep. Carney, John C., Jr. [D-DE-At Large]

    DE • D

    Sponsored 1/25/2016

  • Rep. Bishop, Mike [R-MI-8]

    MI • R

    Sponsored 1/25/2016

  • Rep. Costello, Ryan A. [R-PA-6]

    PA • R

    Sponsored 1/25/2016

  • Rep. Heck, Joseph J. [R-NV-3]

    NV • R

    Sponsored 2/4/2016

  • Rep. Bera, Ami [D-CA-6]

    CA • D

    Sponsored 4/27/2016

  • Rep. Kuster, Ann M. [D-NH-2]

    NH • D

    Sponsored 7/5/2016

Roll Call Votes

No roll call votes available for this bill.

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