US HB8176 | 2019-2020 | 116th Congress
Status
Spectrum: Partisan Bill (Democrat 2-0)
Status: Introduced on September 4 2020 - 25% progression, died in committee
Action: 2020-09-04 - Referred to the House Committee on Ways and Means.
Pending: House Ways And Means Committee
Text: Latest bill text (Introduced) [PDF]
Status: Introduced on September 4 2020 - 25% progression, died in committee
Action: 2020-09-04 - Referred to the House Committee on Ways and Means.
Pending: House Ways And Means Committee
Text: Latest bill text (Introduced) [PDF]
Summary
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.
Title
American Dream Down Payment Act of 2020
Sponsors
| Rep. Gregory Meeks [D-NY] | Rep. Al Green [D-TX] |
History
| Date | Chamber | Action |
|---|---|---|
| 2020-09-04 | House | Referred to the House Committee on Ways and Means. |
| 2020-09-04 | House | Introduced in House |
Same As/Similar To
SB4414 (Same As) 2020-08-04 - Read twice and referred to the Committee on Finance.
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
Taxation
Transfer and inheritance taxes
Financial services and investments
Government information and archives
Housing finance and home ownership
Income tax exclusion
Inflation and prices
State and local government operations
Taxation
Transfer and inheritance taxes
US Congress State Sources
| Type | Source |
|---|---|
| Summary | https://www.congress.gov/bill/116th-congress/house-bill/8176/all-info |
| Text | https://www.congress.gov/116/bills/hr8176/BILLS-116hr8176ih.pdf |
