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.
Bank accounts, deposits, capitalFinancial services and investmentsGovernment information and archivesHousing finance and home ownershipIncome tax exclusionInflation and pricesState and local government operationsTransfer and inheritance taxes
American Dream Down Payment Act of 2021
USA117th CongressHR-1360| House
| Updated: 2/25/2021
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.
Bank accounts, deposits, capitalFinancial services and investmentsGovernment information and archivesHousing finance and home ownershipIncome tax exclusionInflation and pricesState and local government operationsTransfer and inheritance taxes