Uplifting First-Time Homebuyers Act of 2025

Bill: 119-hr-3526
Sponsor: full_name: Rep. Van Duyne, Beth [R-TX-24]
Introduced: 2025-05-20
Policy area: Taxation
Latest action: action_date: 2025-05-20
text: Referred to the House Committee on Ways and Means.

Summaries:

tv_txt: 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.

1. Short title This Act may be cited as the Uplifting First-Time Homebuyers Act of 2025 . 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.