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

Introduced:
Oct 05, 2011 (112th Congress, 2011–2013)
Status:
Died (Referred to Committee) in a previous session of Congress

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

Introduced
Oct 05, 2011
 
Sponsor
John “Johnny” Isakson
Junior Senator from Georgia
Party
Republican
Text
Read Text »
Last Updated
Oct 05, 2011
Length
5 pages
Related Bills
H.R. 3104 (Related)
Hardship Outlays to protect Mortgagee Equity Act of 2011

Referred to Committee
Last Action: Oct 05, 2011

 
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.

 
Cosponsors
none
Committees

Senate Finance

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

 
Primary Source

THOMAS.gov (The Library of Congress)

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Notes

S. stands for Senate bill.

A bill must be passed by both the House and Senate in identical form and then be signed by the president to become law.

The bill’s title was written by its sponsor.

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

The summary below was written by the House Republican Conference, which is the caucus of Republicans in the House of Representatives.


No summary available.

House Democratic Caucus Summary

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