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US HB7393
Bill
Status
Introduced
2/5/2026
Primary Sponsor
Jimmy Patronis
Click for details
AI Summary
- Expands 529 qualified tuition program (education savings account) distributions to include qualified housing expenses for first-time homebuyers
- Qualified housing expenses include the purchase price of a principal residence, closing costs, and mortgage payments
- First-time homebuyer defined as an individual (and spouse, if married) who had no ownership interest in a principal residence during the 3-year period before the purchase
- Amends Section 529(c)(3) of the Internal Revenue Code of 1986
- Effective for distributions made after December 31, 2026
Legislative Description
Save for Success Act
Last Action
Referred to the House Committee on Ways and Means.
2/5/2026
Committee Referrals
Ways And Means2/5/2026
Full Bill Text
No bill text available