To amend the Internal Revenue Code of 1986 to permit pension and annuity plans to make distributions to participants for purposes of acquiring a principal residence.

[AI summary unavailable — showing source text] Amends the Internal Revenue Code (IRC) to permit a pension or annuity plan to make a one-time distribution to a participant for use to acquire, construct, or substantially rehabilitate his or her principal residence without losing its status as a qualified tax-deferred compensation plan for IRC purposes.…