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Committee advances bill to raise Individual Housing Account contribution limits to $10,000/$20,000
Summary
The Senate Committee on Housing passed HB 286 with amendments to raise the Individual Housing Account (IHA) maximum annual deduction to $10,000 for single filers and $20,000 for married filing jointly; DOTAX provided technical comments comparing the change to Roth IRA limits.
The Senate Committee on Housing voted to pass HB 286 with technical amendments and to further defer the bill’s effective date. The committee adopted language raising the maximum annual deduction and account limit for Individual Housing Accounts to $10,000 for single filers and $20,000 for married filing jointly, as noted in the committee report.
The Department of…
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