S. 1656 (112th): Hardship Outlays to protect Mortgagee Equity (HOME) Act

Introduced:
Oct 05, 2011 (112th Congress, 2011–2013)
Sponsor:
Sen. John “Johnny” Isakson [R-GA]
Status:
Died (Referred to Committee)

The bill’s title was written by the bill’s sponsor. S. stands for Senate bill.

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Status

This bill was introduced on October 5, 2011, in a previous session of Congress, but was not enacted.

Progress
Introduced Oct 05, 2011
Referred to Committee Oct 05, 2011
Cosponsors
none
Committees

Senate Finance

The committee chair determines whether a bill will move past the committee stage.

Full Title

A bill to amend the Internal Revenue Code of 1986 to provide penalty free distributions from certain retirement plans for mortgage payments with respect to a principal residence and to modify the rules governing hardship distributions.

Summary

No summaries available.

Text

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Last updated Oct 05, 2011.
5 pages

Primary Source

View on THOMAS (The Library of Congress)

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Citation

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GovTrack’s Bill Summary

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Library of Congress Summary

The summary below was written by the Congressional Research Service, which is a nonpartisan division of the Library of Congress.

10/5/2011--Introduced.
Hardship Outlays to protect Mortgagee Equity (HOME) Act - Amends the Internal Revenue Code to allow taxpayers to withdraw amounts from their tax-exempt pension and retirement plans, without incurring the 10% penalty otherwise imposed on such withdrawals, to make mortgage payments on their principal residences.

House Republican Conference Summary

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No summary available.

House Democratic Caucus Summary

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