HR 7645 · 116th Congress · Taxation
First Time Homebuyer Pandemic Savings Act
Bill Progress
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Introduced2
Committee3
House Vote4
Senate5
EnactedLatest: Referred to the House Committee on Ways and Means.(2020-07-16)
Plain Language Summary
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First Time Homebuyer Pandemic Savings Act This bill extends for one year the exemption from the penalty for early distributions from tax-preferred retirement plans for distributions related to COVID-19 (i.e., coronavirus disease 2019). It also excludes from gross income COVID-19-related distributions which are first-time homebuyer distributions up to $25,000 in a taxable year.…
Summarized by Claude AI · Non-partisan · For informational purposes only
Cosponsors (2)
2 Democrats