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- H.R.507
H.R.507: IRA Self-Loan Act
About This Bill
- This bill was introduced in the 103rd Congress
- This bill is primarily about taxation
- Introduced Jan. 21, 1993
- Latest Major Action Jan. 21, 1993
- See the two similar bills introduced in other congresses.
Bill Sponsor
Bill Cosponsors
15 (3 Democrats, 12 Republicans)
Bill Summary
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.
(Source: Library of Congress)
Bill Actions
| Date | Description |
|---|---|
|
Referred to the House Committee on Ways and Means.
|
|
| Jan. 21, 1993 |
Introduced in the House by Gary A. Franks (R-Conn.) |