American Dream Assistance Act of 1992 - Amends the Internal Revenue Code to allow an individual to make penalty-free withdrawals from an individual retirement account for the acquisition by such individual or the individual's child of a principal residence which is a first home.
Provides that a parent's guarantee of a loan to a child or the child's spouse or to the child's business is not a gift for gift tax purposes.
Introduced in House
Introduced in House
Referred to the House Committee on Ways and Means.
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