First Time Homeowner Savings Plan Act

[AI summary unavailable — showing source text] First Time Homeowner Savings Plan Act This bill amends the Internal Revenue Code to increase from $10,000 to $25,000 the maximum amount that may be withdrawn, without penalty, from a qualified retirement plan for purposes of assisting a first-time homebuyer in purchasing a principal residence. This increased distribution amount shall be adjusted annually for inflation for taxable years beginning after 2015.…