119-hr3526

[Congressional Bills 119th Congress]
[From the U.S. Government Publishing Office]
[H.R. 3526 Introduced in House

    (IH) ]

<DOC>

119th CONGRESS
 1st Session
 H. R. 3526

 To amend the Internal Revenue Code of 1986 to increase the limitation 
 on qualified first-time homebuyer distributions, and for other 
 purposes.

_______________________________________________________________________

 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.

 Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

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.
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