HR 7402 · 119th Congress

Unlocking Homeownership Act

This bill lets people use money saved in 529 college savings plans to buy their first home. Currently, 529 plans are strictly for education expenses—if you withdraw money for anything else, you pay taxes and penalties. This bill creates an exception: first-time homebuyers can take up to the amount they need from the…

Sponsor

Moore, Tim (R-North Carolina)

Introduced

2026-02-05

Policy area

Taxation

Latest action

Referred to the House Committee on Ways and Means.