Senate Bill 4414
116th Congress(2019-2020)
American Dream Down Payment Act of 2020
Introduced
Introduced in Senate on Aug 4, 2020
Origin Chamber
Senate
Type
Bill
Bill
The primary form of legislative measure used to propose law. Depending on the chamber of origin, bills begin with a designation of either H.R. or S. Joint resolution is another form of legislative measure used to propose law.
Bill Number
4414
Congress
116
Policy Area
Taxation
Taxation
Primary focus of measure is all aspects of income, excise, property, inheritance, and employment taxes; tax administration and collection. Measures concerning state and local finance may fall under Economics and Public Finance policy area.
No Senate votes have been held for this bill.
Summary
American Dream Down Payment Act of 2020
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.
August 4, 2020
08/04/2020
Read twice and referred to the Committee on Finance.
08/04/2020
Introduced in Senate
Public Record
Record Updated
Jan 11, 2023 1:45:21 PM