S 4722
American Dream Down Payment Act of 2022
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Bill overview
The American Dream Down Payment Act of 2022 establishes a new system of ‘qualified down payment savings programs’ that allow taxpayers to save for a down payment on a home in tax-free accounts. These programs, offered by states and agencies, would have specific rules regarding contributions, investment options, and beneficiary accounts. The bill also creates a reporting requirement for the Treasury Department and the SEC to track the effectiveness of these programs and their impact on homeownership rates.
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