American Dream Down Payment Act of 2021
- Last Action
- 2/25/2021
Actions
- 2021-02-25Referred to the House Committee on Ways and Means.
- 2021-02-25Introduced in House
- 2021-02-25Introduced in House
CRS Summary
As of 2021-02-25 (00)
American Dream Down Payment Act of 2021
This bill establishes qualified down payment savings programs that allow taxpayers to establish tax-free accounts to save for down payments, including closing costs, on a principal residence. The Department of the Treasury, in coordination with the Securities and Exchange Commission, must report on matters relating to such accounts, including the number of states that have established down payment savings programs and information about beneficiaries of such programs.
Cosponsors (4)
- Joyce Beatty (D-OH)
- Al Green (D-TX)
- Al Lawson (D-FL)
- Steven Horsford (D-NV)
Subjects
- Bank accounts, deposits, capital
- Financial services and investments
- Government information and archives
- Housing finance and home ownership
- Income tax exclusion
- Inflation and prices
- State and local government operations
- Transfer and inheritance taxes
Sourced from Congress.gov (public domain).
This is legal information, not legal advice. Laws vary by jurisdiction and change frequently. Always verify current law with official sources and consult a licensed attorney in your jurisdiction for advice on your specific situation.