# 119-hr-9895: American Dream Accounts Act of 2026

119-hr-9895, American Dream Accounts Act of 2026, is a 119th Congress bill sponsored by Rep. Bean, Aaron [R-FL-4] (R-FL); status introduced; PRIA reads it as touching household money (as of 2026-10-03).

- Canonical: https://policyrisk.com/legislation/119-hr-9895
- As of: 2026-10-03
- Plain-text twin of the page above; the HTML and this file carry the same facts.

## Facts
- Bill: 119-hr-9895
- Congress: 119
- Title: American Dream Accounts Act of 2026
- Status: introduced
- Introduced: 2026-07-23
- Sponsor: Rep. Bean, Aaron [R-FL-4] (R-FL)
- Cosponsors: 1
- Policy area: Taxation
- Touches household money: yes
- Last recorded action: 2026-10-03

## Summary

**American dream accounts** would create a new federal, tax-advantaged savings trust designed to help U.S. citizens save for a first home and related transfers while allowing certain rollovers to Roth IRAs and family accounts. - Families and first-time homebuyers: Qualified first-time homebuyer withdrawals would be tax-exempt up to a $500,000 lifetime limit, with different effective caps when two people use accounts for a joint purchase. - Savers and households: Contributions must be cash and are limited each year to the lesser of $7,500 or the amount remaining under a $250,000 lifetime contribution cap, with a $10,000 catch-up for those aged 35 or older. - Trustees, estates, and tax administration: Trustees must be banks or qualified administrators and must report contributions and distributions. Nonqualified distributions face a 10% additional tax, excess contributions and prohibited transactions get new penalty rules, and limited rollovers to other accounts or Roth IRAs are allowed under timing and lifetime limits including a $100,000 cap on certain rollover-triggering distributions. The rules would apply to taxable years beginning after December 31, 2026.

## Cosponsors (1)

- Rep. James, John [R-MI-10] (R-MI), 2026-10-01T00:00:00.000Z

## Provisions PRIA read

- Rollovers to family accounts and Roth IRAs: benefit, medium. If enacted, you could roll distributions from an American dream account into another such account for the same person, into a family member's account, or into a Roth IRA. Rollovers generally must occur within 60 days, and same-beneficiary rollovers are limited to once per 12 months. Transfers to ot…
- New American Dream account rules: benefit, low. If enacted, this bill would create "American dream accounts" for U.S. citizens and set rules for trustees. Trustees generally must be banks or show they can manage accounts, and custodians can be treated as trustees. Accounts could not buy life insurance, must keep beneficiaries' interests nonforfe…
- Contribution limits for homebuyer savings: mixed, high. If enacted, annual contributions per beneficiary would be the lesser of $7,500 (or $10,000 if you are 35 or older) and the remaining amount up to a $250,000 lifetime cap. Contributions must be cash. Regular contributions would stop after you take a qualified first-time homebuyer distribution, thoug…
- Tax-free homebuyer withdrawals and penalties: mixed, high. If enacted, distributions from an American dream account would be taxable unless they are qualified first-time homebuyer distributions. You could exclude up to $500,000 of such a distribution (or $250,000 in some joint purchases). Only one qualified first-time homebuyer distribution from these acco…

## Related bills

- 119-hr-3151: SHIPS for America Act of 2025
- 119-hr-4669: FEMA Act of 2025
- 119-hr-137: TCJA Permanency Act
- 119-hr-6766: Essential Caregivers Act of 2025
- 119-hr-842: Nancy Gardner Sewell Medicare Multi-Cancer Early Detection Screening Coverage Act
- 119-hr-3277: Ensuring Lasting Smiles Act

## Sources
- [119-hr-9895 on Congress.gov](https://www.congress.gov/bill/119th-congress/house-bill/9895)

## Related
- [119-hr-3151: SHIPS for America Act of 2025](https://policyrisk.com/legislation/119-hr-3151)
- [119-hr-4669: FEMA Act of 2025](https://policyrisk.com/legislation/119-hr-4669)
- [119-hr-137: TCJA Permanency Act](https://policyrisk.com/legislation/119-hr-137)
- [119-hr-6766: Essential Caregivers Act of 2025](https://policyrisk.com/legislation/119-hr-6766)
- [119-hr-842: Nancy Gardner Sewell Medicare Multi-Cancer Early Detection Screening Coverage A…](https://policyrisk.com/legislation/119-hr-842)
- [119-hr-3277: Ensuring Lasting Smiles Act](https://policyrisk.com/legislation/119-hr-3277)
- [All bills in Congress](https://policyrisk.com/legislation)

Source: PRIA, https://policyrisk.com/legislation/119-hr-9895 (as of 2026-10-03).