Restore American Dream Act of 1997

Summary

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.

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Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 12 November 1997

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• Introduced in House (PDF)

  Introduced in House · EN · 12 November 1997

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• Introduced in House

  summary · EN · 12 November 1997

  Open at official source

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