To amend the Internal Revenue Code of 1986 to permit certain transactions between individually directed accounts and account holders and their families relating to residential property and to increase the amount of loans excepted from certain rules pertaining to loans from qualified employer plans to the plan beneficiary.

The bill, designated as H.R. 9958 in the 118th Congress and introduced on October 11, 2024, aims to amend the Internal Revenue Code of 1986. It seeks to allow specific transactions involving individually directed accounts and account holders and their families concerning residential property. Additionally, the bill proposes an increase in the amount of loans exempted from certain regulations related to loans from qualified employer plans to the plan beneficiary.