H.R. 4165 — Introduced in House

I 117th CONGRESS 1st Session H. R. 4165 IN THE HOUSE OF REPRESENTATIVES June 24, 2021Ms. Van Duyne (for herself, Mr. Duncan, Mr. Mast, Mr. Steube, Mr. Stewart, and Mr. Donalds) 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 2021. 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 $20,000. (b) Effective date The amendment made by this Act shall apply to taxable years beginning after December 31, 2020.