What does Preamble of Uplifting First-Time Homebuyers Act of 2025 do?

This bill, formally titled 'To amend the Internal Revenue Code of 1986 to increase the limitation on qualified first-time homebuyer distributions, and for other purposes,' aims to modify the Internal Revenue Code of 1986. The bill seeks to increase the limitation on qualified first-time homebuyer distributions.

What does SHORT TITLE. of Uplifting First-Time Homebuyers Act of 2025 do?

This bill is formally titled the Uplifting First-Time Homebuyers Act of 2025.

What does INCREASING THE LIMITATION ON QUALIFIED FIRST-TIME HOMEBUYER of Uplifting First-Time Homebuyers Act of 2025 do?

This section amends Section 72(t)(8)(B)(i) of the Internal Revenue Code of 1986. The amendment increases the limitation on qualified first-time homebuyer distributions from $10,000 to $50,000. The amendment applies to taxable years beginning after December 31, 2024.

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Uplifting First-Time Homebuyers Act of 2025

Last updated: 9/18/2025 · Introduced: 9/18/2025

Author: Ruben Gallego (D-AZ)

TL;DR (AI)

This bill increases the maximum amount individuals can withdraw from retirement accounts to use towards a first-time home purchase, raising the limit from $10,000 to $50,000.
The change applies to taxable years beginning after December 31, 2024.
The bill modifies the Internal Revenue Code of 1986 to facilitate these increased distributions.

119th Congressin committeeHR. 3526(In Committee)Official page

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Other Sections

Includes provisions on preamble, short title., and 1 more.

3 sections

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