To amend the Internal Revenue Code of 1986 to facilitate the use of amounts from individual retirement plans to pay long-term health care insurance premiums, educational expenses, and first home acquisition costs.
Long-Term Care, Education, and Housing Assistance Act of 1989 - Amends the Internal Revenue Code to exempt from the penalty on early distributions from individual retirement plans distributions for: (1) long-term health care insurance premiums; and (2) educational expenses for higher education or a vocational school.
Provides a tax exclusion for distributions from such plans used to acquire a first home. Limits such distribution to $10,000.
Introduced in House
Introduced in House
Referred to the House Committee on Ways and Means.
checking server…
Ask anything about this bill. The AI reads the full text to answer.
Enter to send · Shift+Enter for new line