Individual Housing Act

A bill to amend the Internal Revenue Code to 1954 to provide tax-saving incentives for savings accounts established for the purpose of purchasing a home.

Subjects

Taxation

Summary

Individual Housing Act - Amends the Internal Revenue Code to allow individuals an income tax deduction of up to $2,500 annually and $10,000 in a lifetime for contributions to an individual housing account. Makes such accounts tax exempt and allows distributions from such an account to be tax free if such distributions are used exclusively for the purchase of a principal residence for the distributee.

Full Text

Related Legislation

H.R. 9907Individual Housing Act
1977-11-02Referred to House Committee on Ways and Means.
Related
H.R. 11905Individual Housing Act
1978-04-05Referred to House Committee on Ways and Means.
Related
H.R. 11992Individual Housing Act
1978-04-11Referred to House Committee on Ways and Means.
Related
H.R. 12214Individual Housing Act
1978-04-18Referred to House Committee on Ways and Means.
Related
H.R. 12282Individual Housing Act
1978-04-20Referred to House Committee on Ways and Means.
Related
H.R. 12372Individual Housing Act
1978-04-25Referred to House Committee on Ways and Means.
Related
H.R. 12399Individual Housing Act
1978-04-26Referred to House Committee on Ways and Means.
Related
H.R. 12711Individual Housing Act
1978-05-12Referred to House Committee on Ways and Means.
Related
H.R. 13124Individual Housing Act
1978-06-13Referred to House Committee on Ways and Means.
Related
H.R. 13400Individual Housing Act
1978-07-10Referred to House Committee on Ways and Means.
Related

Legislative Actions

1977-11-01
Introduced in House
1977-11-01
Introduced in House
1977-11-01
Referred to House Committee on Ways and Means.

Ask about this bill

checking server…

Ask anything about this bill. The AI reads the full text to answer.

Enter to send · Shift+Enter for new line