MO SB1001

Creates the "American Dream Tax Deduction" allowing Missouri taxpayers to deduct contributions to American Dream Savings Accounts up to $5,000/year ($10,000 for married filing combined), with a maximum lifetime contribution of $30,000, effective January 1, 2027

Establishes American Dream Savings Accounts for first-time homebuyers to save for down payments and closing costs on a primary residence in Missouri, with earnings exempt from state income tax

Limits institutional buyers (entities owning 50+ single-family properties nationally) to owning no more than 100 single-family residential properties in Missouri

Requires institutional buyers to file annual reports with the Secretary of State disclosing property holdings, beneficial owners, and property transfers, with civil penalties up to $10,000 per violation for non-compliance

Imposes a 5% penalty on non-qualified withdrawals from savings accounts made within 10 years, or 10% penalty after 10 years, and requires homes purchased with account funds to be held at least 2 years