,i  #aai? ,,congress  #b;d ,session  ,h4
 ,r4 #gdjb  ,,9 ,,! ,,h\se ,,(          
,,repres5tatives  ,febru>y #e1 #bjbf,mr4
 ,moore ( ,nor? ,c>ol9a introduc$ !     
foll[+ bill2 :i* 0 ref]r$ to !          
,committee on ,ways & ,means  ,a ,,bill 
,to am5d ! ,int]nal ,rev5ue ,code (     
#aihf to all[ di/ributions f qualifi$   
tuition programs = fir/ home pur*ases1 &
 = o!r purposes4  #a4 ,%ort title ,?is  
,act may be cit$ z ! ,unlock+           
,home[n]%ip ,act4  #b4 ,all[ance (      
di/ributions f qualifi$ tuition programs
 = fir/ home pur*ases  7a7 ,9 g5]al     
,section #ebi7;c77#c7 ( ! ,int]nal      
,rev5ue ,code ( #aihf is am5d$ by add+  
at ! end ! foll[+ new subp>agraph3  7,f7
 ,di/ributions = fir/ home pur*ases  7i7
 ,9 g5]al ,subp>agraph 7,a7 %all n apply
 to any qualifi$ fir/-"t homebuy]       
di/ribution4  7ii7 ,qualifi$ fir/-"t    
homebuy] di/ribution ,= purposes ( ?is  
subp>agraph1 ! t]m qualifi$ fir/-"t     
homebuy] di/ribution means any          
di/ribution f a qualifi$ tuition program

 ( a designat$ b5efici>y :i* is receiv$ 
by su* b5efici>y to ! ext5t su*         
di/ribution is us$ by ! b5efici>y be=e !
 close ( ! #abj? day aft] ! day on :i*  
su* di/ribution is receiv$ to pay       
qualifi$ acquisition co/s ) respect to a
 pr9cipal resid5ce ( a fir/-"t homebuy] 
:o is su* b5efici>y1 ! sp\se ( su*      
b5efici>y1 or any *ild1 gr&*ild1 or     
ance/or ( su* b5efici>y or ! b5efici>y's
 sp\se4  7iii7 ,qualifi$ acquisition    
co/s ,= purposes ( ?is subp>agraph1 !   
t]m qualifi$ acquisition co/s has !     
mean+ giv5 t t]m 9 section #gb7t77#h74  
7iv7 ,fir/-"t homebuy]2 o!r def9itions  
,= purposes ( ?is subp>agraph-- 7,i7    
,fir/-"t homebuy] ,! t]m fir/-"t        
homebuy] means any individual if su*    
individual 7& if m>ri$1 su* individual's
 sp\se7 _h no pres5t own]%ip int]e/ 9 a 
pr9cipal resid5ce dur+ ! #b-ye> p]iod   
end+ on ! date ( acquisition ( !        
pr9cipal resid5ce to :i* clause 7ii7    
applies4  7,,ii7 ,pr9cipal resid5ce ,!  
t]m pr9cipal resid5ce has ! same mean+ z

 :5 us$ 9 section #aba4  7,,iii7 ,date (
 acquisition ,! t]m date ( acquisition  
means ! date on :i* a b9d+ contract to  
acquire ! pr9cipal resid5ce to :i*      
clause 7ii7 applies is ent]$ into1 or on
 :i* con/ruction or recon/ruction ( su* 
a pr9cipal resid5ce is comm5c$4  7v7    
,special rule :]e delay 9 acquisition   
,if any di/ribution f a qualifi$ tuition
 program fails to meet ! requirem5ts (  
clause 7ii7 solely by reason ( a delay  
or cancellation ( ! pur*ase or          
con/ruction ( ! resid5ce1 ! am\nt ( !   
di/ribution may be transf]r$ to ano!r   
qualifi$ tuition program ( ! designat$  
b5efici>y z provid$ 9 subp>agraph       
7,c77i77,i71 or an ,,able acc\nt ( su*  
b5efici>y z provid$ 9 subp>agraph       
7,c77i77,,iii71 det]m9$ by sub/itut+    
#abj days = #fj days 9 subp>agraph      
7,c77i71 except t-- 7,i7 subp>agraph    
7,c77iii7 %all n be appli$ to su*       
transf]1 &  7,,ii7 su* am\nt %all n be  
tak5 into acc\nt 9 det]m9+ :e!r         
subp>agraph 7,c77iii7 applies to any o!r

 am\nt4  7vi7 ,recontributions  7,i7    
,g5]al rule ,any designat$ b5efici>y :o 
receiv$ a qualifi$ di/ribution may1 dur+
 ! applicable p]iod1 make "o or m       
contributions 9 an aggregate am\nt n to 
exce$ ! am\nt ( su* qualifi$ di/ribution
 to any qualifi$ tuition program or     
,,able acc\nt ( su* b5efici>y to :i* a  
transf] ( su* di/ribution c\ld be made  
"u subclause 7,i7 or 7,,iii7 (          
subp>agraph 7,c77i74  7,,ii7 ,treatm5t (
 repaym5ts ,= purposes ( ?is p>agraph1  
if a contribution is made pursuant to   
subclause 7,i7 ) respect to a qualifi$  
di/ribution1 !n ! designat$ b5efici>y   
%all1 to ! ext5t ( ! am\nt ( !          
contribution1 be treat$ z hav+ receiv$ !
 qualifi$ di/ribution z a transf] "u    
subp>agraph 7,c77i7 )9 #fj days ( !     
di/ribution4  7,,iii7 ,qualifi$         
di/ribution ,= purposes ( ?is clause1 ! 
t]m qualifi$ di/ribution means any      
di/ribution :i* is a qualifi$ fir/-"t   
homebuy] di/ribution1 :i* 0 to be us$ to
 pur*ase or con/ruct a pr9cipal resid5ce

 9 a qualifi$ disa/] area b 0 n s us$ on
 acc\nt ( ! qualifi$ disa/] ) respect to
 su* area1 & :i* 0 receiv$ dur+ ! p]iod 
beg9n+ on ! date :i* is #ahj days be=e !
 fir/ day ( ! incid5t p]iod ( su*       
qualifi$ disa/] & end+ on ! date :i* is 
#cj days aft] ! la/ day ( su* incid5t   
p]iod4  7,,iv7 ,applicable p]iod ,=     
purposes ( ?is clause1 ! t]m applicable 
p]iod means1 9 ! case ( a pr9cipal      
resid5ce 9 a qualifi$ disa/] area )     
respect to any qualifi$ disa/]1 ! p]iod 
beg9n+ on ! fir/ day ( ! incid5t p]iod (
 su* qualifi$ disa/] & end+ on ! date   
:i* is #ahj days aft] ! applicable date 
) respect to su* disa/]4  7,v7 ,qualifi$
 disa/] ,= purposes ( ?is clause1 ! t]m 
qualifi$ disa/] means any disa/] )      
respect to :i* a major disa/] has be5   
decl>$ by ! ,presid5t "u section #dja ( 
! ,rob]t ,t4 ,/af=d ,disa/] ,relief &   
,em]g5cy ,assi/ance ,act aft] ! date ( !
 enactm5t ( ?is clause4  7,,vi7         
,qualifi$ disa/] area ,= purposes ( ?is 
clause1 ! t]m qualifi$ disa/] area      

means1 ) respect to any qualifi$ disa/]1
 ! area ) respect to :i* ! major disa/] 
0 decl>$ "u ! ,rob]t ,t4 ,/af=d ,disa/] 
,relief & ,em]g5cy ,assi/ance ,act4     
7,,vii7 ,incid5t p]iod ,= purposes ( ?is
 clause1 ! t]m incid5t p]iod means1 )   
respect to any qualifi$ disa/]1 ! p]iod 
specifi$ by ! ,f$]al ,em]g5cy ,managem5t
 ,ag5cy z ! p]iod dur+ :i* su* disa/]   
occurr$4  7,,viii7 ,applicable date ,=  
purposes ( ?is clause1 ! t]m applicable 
date means ! late/ ( ! date ( ! enactm5t
 ( ?is subp>agraph1 ! fir/ day ( !      
incid5t p]iod ) respect to ! qualifi$   
disa/]1 or ! date ( ! disa/] decl>ation 
) respect to ! qualifi$ disa/]4  4  7b7 
,effective date ,! am5dm5t made by ?is  
section %all apply to di/ributions made 
aft] ! date ( ! enactm5t ( ?is ,act4