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Using 529 Education Savings for First-Time Home Purchases

This bill amends the Internal Revenue Code of 1986 to allow distributions from qualified tuition programs (529 plans) for qualified acquisition costs of a first home. This applies to the beneficiary, their spouse, children, grandchildren, or ancestors.
Key points
Funds from 529 plans can be used for qualified acquisition costs regarding a principal residence.
A 'first-time homebuyer' is defined as an individual who had no present ownership interest in a principal residence during the preceding 2-year period.
Funds must be used before the close of the 120th day after the distribution is received.
If the purchase is delayed or cancelled, funds may be recontributed to a 529 program or ABLE account.
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Status: Introduced
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Additional Information
Print number: 119_HR_7402
Sponsor: Rep. Moore, Tim [R-NC-14]
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
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OFFICIAL LEGAL TITLE

Unlocking Homeownership Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 119_HR_7402.

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:

  • Funds from 529 plans can be used for qualified acquisition costs regarding a principal residence.
  • A 'first-time homebuyer' is defined as an individual who had no present ownership interest in a principal residence during the preceding 2-year period.
  • Funds must be used before the close of the 120th day after the distribution is received.
  • If the purchase is delayed or cancelled, funds may be recontributed to a 529 program or ABLE account.
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. Moore, Tim [R-NC-14].

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.

CATEGORIES

Taxes Real Estate Education