HR 1074 · 102th Congress · Taxation

Individual Retirement Options Improvement Act of 1991

Introduced 1991-02-21· Sponsored by Rep. Neal, Richard E. [D-MA-2]· House

Bill Progress

✓
Introduced
2
Committee
3
House Vote
4
Senate
5
Enacted
Latest: Referred to the House Committee on Ways and Means.(1991-02-21)

Plain Language Summary

[AI summary unavailable — showing source text] Individual Retirement Options Improvement Act of 1991 - Amends the Internal Revenue Code to exempt from the ten percent penalty tax on early distributions from qualified retirement plans: (1) first-time homebuyer distributions; (2) qualified higher education expenses; and (3) qualified catastrophic illness expenses. Allows an additional deduction for 50 percent of the contributions made to individual retirement plans.…

Summarized by Claude AI · Non-partisan · For informational purposes only

Cosponsors (20)

18 Democrats2 Republicans
Rep. Bilbray, James H. [D-NV-1]NV
Rep. Towns, Edolphus [D-NY-11]NY
Rep. Jontz, Jim [D-IN-5]IN
Rep. Mazzoli, Romano L. [D-KY-3]KY
Rep. Campbell, Ben Nighthorse [D-CO-3]CO
Rep. Lipinski, William O. [D-IL-5]IL
Rep. Evans, Lane [D-IL-17]IL
Rep. Dannemeyer, William E. [R-CA-39]CA
Rep. Eckart, Dennis E. [D-OH-11]OH
Rep. Lancaster, H. Martin [D-NC-3]NC
Rep. Jefferson, William J. [D-LA-2]LA
Rep. Reed, Jack [D-RI-2]RI
Rep. Costello, Jerry F. [D-IL-21]IL
Rep. Poshard, Glenn [D-IL-22]IL
Rep. Schiff, Steven [R-NM-1]NM
Del. Faleomavaega, Eni F. H. [D-AS-At Large]AS
Rep. Payne, Donald M. [D-NJ-10]NJ
Rep. Lowey, Nita M. [D-NY-20]NY
Rep. Bustamante, Albert G. [D-TX-23]TX
Rep. Moakley, John Joseph [D-MA-9]MA