H.R. 3526 — Introduced in House

I 119th CONGRESS 1st Session H. R. 3526 IN THE HOUSE OF REPRESENTATIVES May 20, 2025Ms. 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.