HR7393119th CongressWALLET

Save for Success Act

Sponsored By: Representative Patronis

Introduced

Summary

Lets 529 college-savings plans pay for a first-time homebuyer's housing costs, including closing costs and mortgage payments. This bill would add a new rule so the portion of a 529 distribution used for qualified housing expenses is treated separately from other 529 withdrawals. It defines a first-time homebuyer as an individual and, if married, that individual's spouse who had no ownership interest in a principal residence during the 3-year period ending on the purchase date. The terms "principal residence" and "purchase" use the definitions already in the tax code. The change would apply to distributions made after December 31, 2026.

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  • Families saving in 529 plans: Would be able to use plan funds for the purchase of a primary home for the designated beneficiary, including closing costs and mortgage payments. This gives savers another permitted use for 529 balances.
  • First-time homebuyers: The bill uses a 3-year lookback to define who qualifies and relies on existing tax-code definitions for "principal residence" and "purchase."

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Bill Overview

Analyzed Economic Effects

1 provisions identified: 1 benefits, 0 costs, 0 mixed.

Use 529 money for first home

If enacted, you would be able to use part of a 529 plan withdrawal to pay qualified housing costs for the plan's beneficiary. Qualified housing costs would include purchase expenses, closing costs, and mortgage payments for the principal residence. To qualify, the beneficiary (and the spouse, if married) would have to be a first-time homebuyer with no present ownership interest in a main home during the prior three years. This change would apply only to the portion of a distribution used for those housing costs and only to distributions made after December 31, 2026.

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Sponsors & CoSponsors

Sponsor

Patronis

FL • R

Cosponsors

  • Bilirakis

    FL • R

    Sponsored 2/5/2026

  • Rep. Soto, Darren [D-FL-9]

    FL • D

    Sponsored 3/25/2026

Roll Call Votes

No roll call votes available for this bill.

View on Congress.gov

Live Policy Activity

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Surfaced from PRIA's policy knowledge graph — ranked by signal strength, connected by evidence.

Live · 3h ago15,853Bills1,439Wiki4 signals surfaced
Now TrackingHR8495
Moving· 4 days in stage

Financial Services and General Government Appropriations Act, 2027

Rep. Joyce, David P. [R-OH-14] (R-OH)
IntroducedApr 24
Cmte Reported
Passed Origin Chbr
Passed Second Chbr
Resolving Diffs
Enrolled
Became Law
Current StageIntroduced· 4d

Appropriations package that would fund Treasury and IRS while imposing rulemaking limits and detailed DC policy constraints, affecting taxpayers, community lenders, and DC residents.

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