To amend the Internal Revenue Code of 1986 to increase the limitation on qualified first-time homebuyer distributions, and for other purposes.
Analysis under review: This bill has generated analysis that may be too generic or incomplete. Clause-level evidence remains available below.
Summary
What This Bill Does
The bill requires increasing the limitation on qualified first-time homebuyer distributions Section 72(t)(8)(B)(i) of the Internal Revenue Code of 1986 is amended by striking $10,000 and inserting $30,000. It relies on definition changes, tax rate changes, and compliance mandates. The main policy areas are Regulated Industries.
Who Benefits and How
Regulated entities and members of the public affected by the bill could face lower compliance burdens.
Who Bears the Burden and How
Federal, state, or local agencies responsible for implementing the clause would take on compliance duties.
Key Provisions
- Requires increasing the limitation on qualified first-time homebuyer distributions Section 72(t)(8)(B)(i) of the Internal Revenue Code of 1986 is amended by striking $10,000 and inserting $30,000.
Evidence Chain:
This summary is generated from the full bill text using AI analysis. Expand "Detailed Analysis" below for identified beneficiaries/burden bearers with clause-level evidence links.
At a Glance
What This Bill Does
The bill requires increasing the limitation on qualified first-time homebuyer distributions Section 72(t)(8)(B)(i) of the Internal Revenue Code of 1986 is amended by striking $10,000 and inserting $30,000.
Key Policy Areas
Regulated Industries
Primary Purpose
The bill requires increasing the limitation on qualified first-time homebuyer distributions Section 72(t)(8)(B)(i) of the Internal Revenue Code of 1986 is amended by striking $10,000 and inserting $30,000.
Policy Domains
Whole bill
Identified Gains
- Regulated entities and members of the public affected by the bill
Identified Costs
- Federal, state, or local agencies responsible for implementing the clause
Legislative Progress
IntroducedMs. Van Duyne introduced the following bill; which was referred …
Impact analysis is available but no clear stakeholder effects identified. View clause-level analysis →
Bill Structure & Actor Mappings
Who is "The Secretary" in each section?
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