Bill116th CongressFiled Jul 16, 2020Taxation
H.R. 7645
First Time Homebuyer Pandemic Savings Act
Bill journey · stage 2 of 5
Under committee review
FiledFiled
CommitteeComm.
PassedFloor
Both ChambersBoth
Became LawLaw
What it doesSummary introduced in house (Jul 16, 2020)
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.
What just happenedJul 16, 2020
Referred to the House Committee on Ways and Means.
Who’s behind it
Rep. Maloney, Sean Patrick [D-NY-18](D-NY)Sponsor
2 cosponsors2 D
2cosponsors1committees4actions7subjects
- Introduced in HouseJul 16, 2020
- Jul 16, 2020IntroReferralH11100
Referred to the House Committee on Ways and Means.
Ways and Means Committee - Jul 16, 2020Committee
Referred to the Subcommittee on Social Security.
Social Security Subcommittee - Jul 16, 2020IntroReferralIntro-H
Introduced in House
- Jul 16, 2020IntroReferral1000
Introduced in House