To amend the Internal Revenue Code of 1986 to increase the amount that can be withdrawn without penalty from individual retirement plans as first-time homebuyer distributions.
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
This bill, To amend the Internal Revenue Code of 1986 to increase the amount that can be withdrawn without penalty from individual retirement plans as first-time homebuyer distributions., changes federal law or congressional policy affecting homeowners, renters, builders, and housing agencies. The main policy domain is Housing.
Who Benefits and How
homeowners, renters, builders, and housing agencies may benefit from new authority, funding, eligibility, regulatory clarity, or reduced risk created by the bill.
Who Bears the Burden and How
federal implementing agencies, homeowners, renters, builders, and housing agencies may take on implementation duties, reporting obligations, compliance costs, or oversight responsibilities.
Key Provisions
- Section H265018CAE2B64798B6027A42430C1127: 1. Short title This Act may be cited as the First Time Homeowner Savings Plan Act.
- Section H2FF785C9A8704E459799C21353484F05: 2. Increase in limitation on penalty-free first-time homebuyer distributions Section 72(t)(8)(B)(i) of the Internal Revenue Code of 1986 is amended by striking...
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
This bill, To amend the Internal Revenue Code of 1986 to increase the amount that can be withdrawn without penalty from individual retirement plans as first-time homebuyer distributions., changes federal law or congressional policy affecting homeowners, renters, builders, and housing agencies.
Key Policy Areas
Housing
Primary Purpose
This bill, To amend the Internal Revenue Code of 1986 to increase the amount that can be withdrawn without penalty from individual retirement plans as first-time homebuyer distributions., changes federal law or congressional policy affecting homeowners, renters, builders, and housing agencies.
Policy Domains
Whole bill
Identified Gains
- homeowners, renters, builders, and housing agencies
Identified Costs
- federal implementing agencies
- homeowners, renters, builders, and housing agencies
Legislative Progress
IntroducedMs. Stevens introduced the following bill; which was referred to …
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?
- "federal_implementing_agencies"
- → Federal agencies assigned duties by the bill
We use a combination of our own taxonomy and classification in addition to large language models to assess meaning and potential beneficiaries. High confidence means strong textual evidence. Always verify with the original bill text.
Learn more about our methodology