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H.R. 1360 117th Congress House

American Dream Down Payment Act of 2021

Official title: To amend the Internal Revenue Code of 1986 to establish qualified down payment savings programs.

Introduced: February 25, 2021 Introduced by: Gregory W. Meeks Democratic · New York See on congress.gov
Taxation Bank accounts, deposits, capitalFinancial services and investmentsGovernment information and archivesHousing finance and home ownership
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Income tax exclusionInflation and pricesState and local government operationsTransfer and inheritance taxes
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This bill died when the 117th Congress ended
It never became law before the 117th Congress (2021–2022) 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
Feb 25, 2021
Introduced in House
Feb 25, 2021
Referred to the House Committee on Ways and Means.
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 Latest action February 25, 2021

Referred to the House Committee on Ways and Means.

 Plain-English summary Congressional Research Service

American Dream Down Payment Act of 2021

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.

 Related & companion bills 1
  • S 4722 American Dream Down Payment Act of 2022
 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
 Cosponsors 4
All 4 Democratic 3
D
Horsford, Steven
Nevada · Aug 30, 2022
Lawson, Al
· May 20, 2021
 D
Beatty, Joyce
Ohio · Feb 25, 2021
 D
Green, Al
Texas · Feb 25, 2021
Cite this page click to expand
APA
U.S. Congress. (2026). H.R. 1360: American Dream Down Payment Act of 2021. 117th Congress. Open America. https://openamerica.io/bill/117-HR-1360/
MLA
"H.R. 1360: American Dream Down Payment Act of 2021." 117th Congress, 2026, Open America, https://openamerica.io/bill/117-HR-1360/.
Bluebook (legal)
H.R. 1360, 117th Cong. (2026), https://openamerica.io/bill/117-HR-1360/.
Markdown link
[H.R. 1360: American Dream Down Payment Act of 2021](https://openamerica.io/bill/117-HR-1360/)
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