To amend the Internal Revenue Code of 1986 to permit loans from individual retirement plans for certain first-time home buyer, education, and medical emergency expenses.
IRA Self-Loan Act - Amends the Internal Revenue Code to allow loans to be made or secured by an individual retirement account for first-time homebuyer expenses, education expenses, or medical emergency expenses. Limits such a loan amount to $50,000. Exempts such loans from the tax on prohibited transactions.
Introduced in House
Introduced in House
Referred to the House Committee on Ways and Means.
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