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To amend the Internal Revenue Code of 1986 to increase the amount that can be withdrawn without penalty from individual retirement plans as first-time homebuyer distributions.

10/16/2024, 8:05 AM

Summary of Bill HR 9994

This bill, designated as H.R. 9994 in the 118th Congress and introduced on October 15, 2024, aims to amend the Internal Revenue Code of 1986 to raise the allowable amount that can be withdrawn penalty-free from individual retirement plans for first-time homebuyer distributions.

Current Status of Bill HR 9994

Bill HR 9994 is currently in the status of Bill Introduced since October 15, 2024. Bill HR 9994 was introduced during Congress 118 and was introduced to the House on October 15, 2024.  Bill HR 9994's most recent activity was Referred to the House Committee on Ways and Means. as of October 15, 2024

Bipartisan Support of Bill HR 9994

Total Number of Sponsors
1
Democrat Sponsors
1
Republican Sponsors
0
Unaffiliated Sponsors
0
Total Number of Cosponsors
0
Democrat Cosponsors
0
Republican Cosponsors
0
Unaffiliated Cosponsors
0

Policy Area and Potential Impact of Bill HR 9994

Primary Policy Focus

Alternate Title(s) of Bill HR 9994

To amend the Internal Revenue Code of 1986 to increase the amount that can be withdrawn without penalty from individual retirement plans as first-time homebuyer distributions.
To amend the Internal Revenue Code of 1986 to increase the amount that can be withdrawn without penalty from individual retirement plans as first-time homebuyer distributions.

Comments

Sponsors and Cosponsors of HR 9994

Haley M. Stevens
Haley M. Stevens
MichiganDemocrat

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