HR 5776 · 110th Congress · Taxation

Homeowner Empowerment Act of 2008

Introduced 2008-04-10· Sponsored by Rep. Shadegg, John B. [R-AZ-3]· House

Bill Progress

✓
Introduced
2
Committee
3
House Vote
4
Senate
5
Enacted
Latest: Referred to the House Committee on Ways and Means.(2008-04-10)

Plain Language Summary

[AI summary unavailable — showing source text] Homeowner Empowerment Act of 2008 - Amends the Internal Revenue Code to: (1) exclude from gross income distributions from individual retirement plans and other qualified retirement plans for payments on the mortgage of a taxpayer's principal residence; (2) require repayments of amounts distributed from such retirement plans over a 12-year period; and (3) waive the 10% penalty on premature distributions from retirement plans for distributions used to pay a mortgage.…

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

Cosponsors (20)

20 Republicans
Rep. Feeney, Tom [R-FL-24]FL
Rep. Marchant, Kenny [R-TX-24]TX
Rep. Broun, Paul C. [R-GA-10]GA
Rep. Musgrave, Marilyn N. [R-CO-4]CO
Rep. Westmoreland, Lynn A. [R-GA-3]GA
Rep. Goode, Virgil H., Jr. [R-VA-5]VA
Rep. Bartlett, Roscoe G. [R-MD-6]MD
Rep. Gohmert, Louie [R-TX-1]TX
Rep. Blackburn, Marsha [R-TN-7]TN
Rep. Franks, Trent [R-AZ-2]AZ
Rep. Akin, W. Todd [R-MO-2]MO
Rep. Campbell, John [R-CA-48]CA
Rep. Pitts, Joseph R. [R-PA-16]PA
Rep. Price, Tom [R-GA-6]GA
Rep. Sensenbrenner, F. James, Jr. [R-WI-5]WI
Rep. Hoekstra, Peter [R-MI-2]MI
Rep. Pence, Mike [R-IN-6]IN
Rep. Weldon, Dave [R-FL-15]FL
Rep. Doolittle, John T. [R-CA-4]CA
Rep. Kuhl, John R. "Randy", Jr. [R-NY-29]NY