US HB7645 | 2019-2020 | 116th Congress
Status
Spectrum: Partisan Bill (Democrat 3-0)
Status: Introduced on July 16 2020 - 25% progression, died in committee
Action: 2020-07-16 - Referred to the House Committee on Ways and Means.
Pending: House Ways And Means Committee
Text: Latest bill text (Introduced) [PDF]
Status: Introduced on July 16 2020 - 25% progression, died in committee
Action: 2020-07-16 - Referred to the House Committee on Ways and Means.
Pending: House Ways And Means Committee
Text: Latest bill text (Introduced) [PDF]
Summary
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.
Title
First Time Homebuyer Pandemic Savings Act
Sponsors
Rep. Sean Maloney [D-NY] | Rep. Jahana Hayes [D-CT] | Rep. Michael San Nicolas [D-GU] |
History
Date | Chamber | Action |
---|---|---|
2020-07-16 | House | Referred to the House Committee on Ways and Means. |
2020-07-16 | House | Referred to the Subcommittee on Social Security. |
2020-07-16 | House | Introduced in House |
Subjects
Cardiovascular and respiratory health
Emergency medical services and trauma care
Employee benefits and pensions
Housing finance and home ownership
Income tax deferral
Income tax exclusion
Infectious and parasitic diseases
Taxation
Emergency medical services and trauma care
Employee benefits and pensions
Housing finance and home ownership
Income tax deferral
Income tax exclusion
Infectious and parasitic diseases
Taxation
US Congress State Sources
Type | Source |
---|---|
Summary | https://www.congress.gov/bill/116th-congress/house-bill/7645/all-info |
Text | https://www.congress.gov/116/bills/hr7645/BILLS-116hr7645ih.pdf |