To amend the Internal Revenue Code of 1986 to permit early distributions from employee stock ownership plans for higher education expenses and first-time homebuyer purchases.

[AI summary unavailable — showing source text] Amends the Internal Revenue Code to permit, without payment of the ten-percent additional tax on early distributions from qualified retirement plans and under specified conditions, early distributions from employee stock ownership plans for qualified higher education expenses and qualified first-time homebuyer purchases.…