HR 4120
116th Congress
House
Taxation
Bank accounts, deposits, capital
Housing and community development funding
Housing finance and home ownership
Income tax exclusion
Marriage and family status
Residential rehabilitation and home repair
Tax treatment of families
First-Time Homeowners Assistance Act of 2019
Introduced: July 30, 2019
See on congress.gov
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jul 30, 2019
Referred to the House Committee on Ways and Means.
Jul 30, 2019
Introduced in House
Plain-English summary
First-Time Homeowners Assistance Act of 2019
This bill establishes a tax-exempt qualified first-time homeowner assistance program. Under such a program, a person may make cash contributions to a first-time homeowner assistance account.
The bill defines "first-time homeowner assistance account" as an account for providing down payment assistance to an account beneficiary who is a first-time homeowner of a principal residence in the United States. The amount of such downpayment assistance cannot exceed 10% of the cost of acquiring, constructing, or substantially improving the residence.
What's happening now
Referred to the House Committee on Ways and Means.
Committees of jurisdiction
1