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HR 3024 105th Congress House Taxation Employee benefit plans Excise tax Government Operations and Politics Government paperwork Home ownership Housing and Community Development Housing finance Income tax Labor and Employment Law Personal income tax Tax deductions Tax exclusion Tax exemption Tax penalties Trusts and trustees

Restore American Dream Act of 1997

Introduced: November 12, 1997 See on congress.gov
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This bill died when the 105th Congress ended
It never became law before the 105th Congress (1997–1998) adjourned, and bills don't carry over to the next Congress. It would have to be reintroduced. You can still save it for reference, but it won't receive updates.
 Everywhere this bill has been 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Nov 12, 1997
Referred to the House Committee on Ways and Means.
Nov 12, 1997
Introduced in House
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 Plain-English summary Congressional Research Service

Restore American Dream Act of 1997 - Amends the Internal Revenue Code to permit, in the case of an individual who has never had an ownership interest in a principal residence, a limited deduction for amounts paid into a home ownership plan. Defines such a plan as a trust created exclusively for the purpose of paying qualified principal residence acquisition expenses. Excludes qualified distributions from such a plan from gross income. Exempts such a plan from taxation.

What's happening now November 12, 1997

Referred to the House Committee on Ways and Means.

 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
 Cosponsors 1
All 1 Democratic 1
D
Thompson, Bennie G.
Mississippi · Oct 12, 1998
Cite this page click to expand
APA
U.S. Congress. (2026). H.R. 3024: Restore American Dream Act of 1997. 105th Congress. Open America. https://openamerica.io/bill/105-HR-3024/
MLA
"H.R. 3024: Restore American Dream Act of 1997." 105th Congress, 2026, Open America, https://openamerica.io/bill/105-HR-3024/.
Bluebook (legal)
H.R. 3024, 105th Cong. (2026), https://openamerica.io/bill/105-HR-3024/.
Markdown link
[H.R. 3024: Restore American Dream Act of 1997](https://openamerica.io/bill/105-HR-3024/)
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