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Higher Retirement Savings Withdrawal for First Home Without Penalty

New rules make it easier to use money from retirement plans to buy a first home. They increase the amount you can withdraw without extra fees, helping with down payments.
Key points
The penalty-free withdrawal limit from retirement plans for a first home increases from $10,000 to $25,000.
Starting in 2023, this limit will be adjusted annually for inflation.
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Status:
Expired
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Additional Information
First Time Homeowner Savings Plan Act
Print number: HR 5078
Sponsor: Rep. Maloney, Sean Patrick [D-NY-18]
Process start date: 2021-08-23
System Note: Lustra is free, publicly auditable civic infrastructure, with full source code available on GitHub. You are reading sterilized legislative data, processed by our radical neutrality engine to strip political spin and retain factual mechanics. We process only official government data. Original documents remain the authoritative source, always verify them if you can.
Summarized by: gemini-2.5-flash-preview-04-17
Source data: api.congress.gov
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Summary & Status

Key Questions about Higher Retirement Savings Withdrawal for First Home Without Penalty

A structured overview of the legislative process, official sources, status and civic context.

What is the official ID of this bill?

The official print number for this legislation is HR 5078.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2021-08-23.

What are the main provisions?

Key points include:

  • The penalty-free withdrawal limit from retirement plans for a first home increases from $10,000 to $25,000.
  • Starting in 2023, this limit will be adjusted annually for inflation.

What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. Maloney, Sean Patrick [D-NY-18].

What is the latest detailed status?

The latest detailed status is: Referred to the House Committee on Ways and Means.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-28.

Analysis and Potential Impact of HR 5078

We don't know, that is up to you to decide. Summarizing raw data with AI is fundamentally different from predicting socio-economic outcomes. As of 2026, we believe impact assessment strictly requires a human in the loop to verify and judge. Review our public AI processing logs for full transparency, and use Lustra to track active legislation for instant status push notifications.

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