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H.R. 839: Renewing the Dream Tax Credit Act

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H.R. 839: Renewing the Dream Tax Credit Act

108th Congress · introduced 2003-02-13 · Taxation · Latest: Sponsor introductory remarks on measure. (CR E1251)

federal

Follow this bill, step by step

  1. Where it came from: introduced 2003-02-13 · official record
  2. Who proposed it: Rep. Portman, Rob [R-OH-2] · what a sponsor is
  3. What happened next: no floor votes in our records yet. Why?
  4. Where it stands now: Sponsor introductory remarks on measure. (CR E1251) Not final yet: this can still change. We check for updates every day.
  5. If it becomes law and spends money: follow the money to money laws, then agencies and contracts and grants.

What does this mean?

Official title

Renewing the Dream Tax Credit Act

Plain summary

Renewing the Dream Tax Credit Act - Amends the Internal Revenue Code to permit a community homeownership tax credit based upon an applicable percentage of each qualified residence's eligible basis. Makes such credit available to residences located: (1) in a census tract with a median gross income not exceeding 80 percent of the greater area or statewide median gross income; (2) in a rural area; (3) on an Indian reservation; or (4) in an area of chronic economic distress. Prohibits a buyer's income from exceeding 80 percent (70 percent for families of less than three) of the area gross median income and requires owner occupancy. Specifies that the aggregate homeownership credit dollar amount which a homeownership credit agency (an "agency") may disburse is the portion of the "State homeownership credit ceiling" (the "ceiling") allocated to such agency. Allows "unused homeownership credit carryovers" to be allocated among qualified States. Sets aside at up to 90 percent least ten percent of a State's ceiling for certain housing projects in which a qualified nonprofit organization owns an interest and materially participates in the given project's development and operation throughout the credit period. Requires allocation of credit to residences to be in accordance with a "qualified allocation plan" of the agency issuing credit. Lists certain specified criteria such a plan must include and specifies that the plan must be approved by the governmental unit of which such agency is a part.

Congressional Research Service summary (Introduced in House), quoted unchanged (nonpartisan). Read the source.

What a vote does

A “Yea” vote

If it passes both chambers and is signed, it becomes law.

A “Nay” vote

If it is not passed, current law stays as it is.

PSI Sci description of the legislative step (not an opinion).

What does this mean? (plain words)

Official text

Renewing the Dream Tax Credit Act

Source: Congressional Research Service summary (Introduced in House)

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The strongest published arguments

Arguments for (supporters)

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Arguments against (opponents)

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Alternatives

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How did my representative vote? · This bill's floor votes

Officials and money

Sponsor: Rep. Portman, Rob [R-OH-2] · 303 cosponsors

Cost estimate: No cost estimate published yet.

Cosponsors on this site

Tom Cole (R-OK), Joe Wilson (R-SC), Chris Van Hollen (D-MD), Michael R. Turner (R-OH), Pete Sessions (R-TX), Michael K. Simpson (R-ID), Sam Graves (R-MO), Roger F. Wicker (R-MS), John Boozman (R-AR) and 243 more.

No linked floor roll calls in our collected records yet. This does not mean the bill has never had a vote. Check the official bill history.

Sources

Record fed-us-cong108-hr839 · catalog fed-us-congress-bills-cong108 · updated 2026-11-15 by psicol fed-bills-cong108