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Using 529 Education Plan Funds for Housing Expenses

The Save for Success Act amends the Internal Revenue Code of 1986 to allow distributions from qualified tuition programs (529 plans) for qualified housing expenses. This applies to first-time homebuyers and covers expenses incurred for the purchase of a principal residence, including closing costs and mortgage payments.
Key points
Allows distributions from 529 plans for qualified housing expenses.
Expenses include the purchase of a principal residence, closing costs, and mortgage payments.
The beneficiary must be a first-time homebuyer (no ownership interest in a principal residence during the previous 3 years).
Applies to distributions made after December 31, 2026.
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Status: Introduced
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Additional Information
Print number: 119_HR_7393
Sponsor: Rep. Patronis, Jimmy [R-FL-1]
Process start date: 2026-02-05
System Note: Lustra is free, publicly auditable civic infrastructure — 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-3-pro-preview
Source data: api.congress.gov
AI work logs for this document launch

OFFICIAL LEGAL TITLE

Save for Success Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 119_HR_7393.

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 2026-02-05.

What are the main provisions?

Key points include:

  • Allows distributions from 529 plans for qualified housing expenses.
  • Expenses include the purchase of a principal residence, closing costs, and mortgage payments.
  • The beneficiary must be a first-time homebuyer (no ownership interest in a principal residence during the previous 3 years).
  • Applies to distributions made after December 31, 2026.
What is the specific legal status?

The current status is Introduced.

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. Patronis, Jimmy [R-FL-1].

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 2026-02-21.

What is the impact of this bill?

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.

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