# 119-hr-10944: Homeownership Opportunity Act

119-hr-10944, Homeownership Opportunity Act, is a 119th Congress bill sponsored by Rep. Steube, W. Gregory [R-FL-17] (R-FL); status introduced; PRIA reads it as touching household money (as of 2026-11-03).

- Canonical: https://policyrisk.com/legislation/119-hr-10944
- As of: 2026-11-03
- Plain-text twin of the page above; the HTML and this file carry the same facts.

## Facts
- Bill: 119-hr-10944
- Congress: 119
- Title: Homeownership Opportunity Act
- Status: introduced
- Introduced: 2026-10-29
- Sponsor: Rep. Steube, W. Gregory [R-FL-17] (R-FL)
- Cosponsors: 2
- Policy area: unknown
- Touches household money: yes
- Last recorded action: 2026-11-03

## Summary

**This bill would let people use money from certain retirement accounts tax-free for a home down payment and closing costs, creating a targeted tax exclusion for those distributions.** It frames repayment rules and caps and applies to defined contribution, 403(a), and 457(b) plans.

## Cosponsors (2)

- Rep. Panetta, Jimmy [D-CA-19] (D-CA), 2026-10-29T00:00:00.000Z
- Rep. Carey, Mike [R-OH-15] (R-OH), 2026-10-29T00:00:00.000Z

## Provisions PRIA read

- Tax-free retirement withdrawals for homebuyers: benefit, high. This bill would let you exclude certain retirement-plan withdrawals from taxable income when you use the money for a down payment or closing costs on your main home. The annual exclusion would equal the greater of $40,000 or 40% of your vested account balance on the distribution date, reduced by pr…
- Repay retirement withdrawals after home purchase: benefit, low. If enacted, the bill would let you repay up to the amount you withdrew for a qualifying home purchase within 3 years after the distribution. Repayments must go to eligible retirement plans that accept rollovers and cannot go to defined benefit plans. You could repay to an IRA only if you have separ…

## Related bills

- 119-hr-4669: FEMA Act of 2025
- 119-hr-3151: SHIPS for America Act of 2025
- 119-hr-1262: Mikaela Naylon Give Kids a Chance Act
- 119-hr-1227: Alternatives to PAIN Act
- 119-hr-5509: Safe Step Act
- 119-hr-842: Nancy Gardner Sewell Medicare Multi-Cancer Early Detection Screening Coverage Act

## Sources
- [119-hr-10944 on Congress.gov](https://www.congress.gov/bill/119th-congress/house-bill/10944)

## Related
- [119-hr-4669: FEMA Act of 2025](https://policyrisk.com/legislation/119-hr-4669)
- [119-hr-3151: SHIPS for America Act of 2025](https://policyrisk.com/legislation/119-hr-3151)
- [119-hr-1262: Mikaela Naylon Give Kids a Chance Act](https://policyrisk.com/legislation/119-hr-1262)
- [119-hr-1227: Alternatives to PAIN Act](https://policyrisk.com/legislation/119-hr-1227)
- [119-hr-5509: Safe Step Act](https://policyrisk.com/legislation/119-hr-5509)
- [119-hr-842: Nancy Gardner Sewell Medicare Multi-Cancer Early Detection Screening Coverage A…](https://policyrisk.com/legislation/119-hr-842)
- [All bills in Congress](https://policyrisk.com/legislation)

Source: PRIA, https://policyrisk.com/legislation/119-hr-10944 (as of 2026-11-03).