I
119th CONGRESS
1st Session
H. R. 3526
IN THE HOUSE OF REPRESENTATIVES
May 20, 2025
Ms. Van Duyne introduced the following bill; which was referred to the Committee on Ways and Means
A BILL
To amend the Internal Revenue Code of 1986 to increase the limitation on qualified first-time homebuyer distributions, and for other purposes.
Section 1. Short title
This Act may be cited as the Uplifting First-Time Homebuyers Act of 2025
.
Sec. 2. Increasing the limitation on qualified first-time homebuyer distributions
(a) In general
Section 72(t)(8)(B)(i) of the Internal Revenue Code of 1986 is amended by striking $10,000
and inserting $50,000
.
(b) Effective date
The amendment made by this Act shall apply to taxable years beginning after December 31, 2024.