S 4722
117th Congress
Senate
Taxation
American Dream Down Payment Act of 2022
Introduced: August 2, 2022
Introduced by:
Warnock, Raphael G.
Democratic
· Georgia
See on congress.gov
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Aug 2, 2022
Read twice and referred to the Committee on Finance.
Aug 2, 2022
Introduced in Senate
Plain-English summary
American Dream Down Payment Act of 2022
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.
What's happening now
Read twice and referred to the Committee on Finance.
Committees of jurisdiction
1