US HB4120 | 2019-2020 | 116th Congress
Status
Spectrum: Partisan Bill (Democrat 4-0)
Status: Introduced on July 30 2019 - 25% progression, died in committee
Action: 2019-07-30 - Referred to the House Committee on Ways and Means.
Pending: House Ways And Means Committee
Text: Latest bill text (Introduced) [PDF]
Status: Introduced on July 30 2019 - 25% progression, died in committee
Action: 2019-07-30 - Referred to the House Committee on Ways and Means.
Pending: House Ways And Means Committee
Text: Latest bill text (Introduced) [PDF]
Summary
Establishes a tax-exempt qualified first-time homeowner assistance program. Under such a program, a person may make cash contributions to a first-time homeowner assistance account. The bill defines "first-time homeowner assistance account" as an account for providing down payment assistance to an account beneficiary who is a first-time homeowner of a principal residence in the United States. The amount of such downpayment assistance cannot exceed 10% of the cost of acquiring, constructing, or substantially improving the residence.
Title
First-Time Homeowners Assistance Act of 2019
Sponsors
Rep. Al Lawson [D-FL] | Rep. Rashida Tlaib [D-MI] | Rep. Henry Cuellar [D-TX] | Rep. Bill Foster [D-IL] |
History
Date | Chamber | Action |
---|---|---|
2019-07-30 | House | Referred to the House Committee on Ways and Means. |
2019-07-30 | House | Introduced in House |
Subjects
Bank accounts, deposits, capital
Housing and community development funding
Housing finance and home ownership
Income tax exclusion
Marriage and family status
Residential rehabilitation and home repair
Tax treatment of families
Taxation
Housing and community development funding
Housing finance and home ownership
Income tax exclusion
Marriage and family status
Residential rehabilitation and home repair
Tax treatment of families
Taxation
US Congress State Sources
Type | Source |
---|---|
Summary | https://www.congress.gov/bill/116th-congress/house-bill/4120/all-info |
Text | https://www.congress.gov/116/bills/hr4120/BILLS-116hr4120ih.pdf |