,i  #aafth ,,congress  #b;d ,session    
,h4 ,r4 #gfde  ,,in ,,the ,,house ,,of  
,,representatives  ,july #af1 #bjbj ,mr4
 ,sean ,patrick ,maloney of ,new ,york  
introduced the following bill2 which was
 referred to the ,committee on ,ways and
 ,means  ,a ,,bill  ,to extend the time 
period for making coronavirus-related   
distributions from retirement plans and 
to provide an exclusion from gross      
income of coronavirus-related           
distributions which are first-time      
homebuyer distributions4  #a4 ,short    
title ,this ,act may be cited as the    
,first ,time ,homebuyer ,pandemic       
,savings ,act4  #b4 ,extension of period
 for making coronavirus-related         
distributions from retirement plans  7a7
 ,in general ,section                   
#bbjb7;a77#d77;,a77i7 of the ,,cares    
,act is amended by striking ,december   
#ca1 #bjbj and inserting ,december #ca1 
#bjba4  7b7 ,effective date ,the        
amendment made by this section shall    
apply to distributions made after       

,december #ca1 #bjbj4  #c4 ,exclusion   
from gross income of coronavirus-related
 distributions which are first-time     
homebuyer distributions  7a7 ,in general
 ,section #bbjb7;a7 of the ,,cares ,act 
is amended by adding at the end the     
following new paragraph3  7#g7          
,exclusion from gross income of         
coronavirus-related distributions which 
are first-time homebuyer distributions  
7,a7 ,in general ,gross income shall not
 include any coronavirus-related        
distribution which is a qualified       
first-time homebuyer distribution 7as   
defined in section #gb7t77#h77;,a7 of   
the ,internal ,revenue ,code of #aihf74 
7,b7 ,dollar limitation ,the aggregate  
amount taken into account as qualified  
first-time homebuyer distributions by   
any individual under subparagraph 7,a7  
for any taxable year shall not exceed   
the excess 7if any7 of--  7i7 #be1jjj1  
over  7ii7 the aggregate amount so taken
 into account in all prior taxable      
years4  4  7b7 ,effective date ,the     

amendment made by this section shall    
apply to distributions made after the   
date of the enactment of this ,act4