Summary: S.4414 — 116th Congress (2019-2020)All Information (Except Text)

There is one summary for S.4414. Bill summaries are authored by CRS.

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Introduced in Senate (08/04/2020)

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.