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116-hr-7645116th Congress
First Time Homebuyer Pandemic Savings Act
Sponsored By: Representative Maloney, Sean Patrick [D-NY-18]
Unknown
Summary
First Time Homebuyer Pandemic Savings Act This bill extends for one year the exemption from the penalty for early distributions from tax-preferred retirement plans for distributions related to COVID-19 (i.e., coronavirus disease 2019). It also excludes from gross income COVID-19-related distributions which are first-time homebuyer distributions up to $25,000 in a taxable year.
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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. Hayes, Jahana [D-CT-5]
CT • D
Sponsored 7/23/2020
Del. San Nicolas, Michael F. Q. [D-GU-At Large]
GU • D
Sponsored 8/11/2020
Roll Call Votes
No roll call votes available for this bill.
View on Congress.gov