# 119-hr-7402: Unlocking Homeownership Act

119-hr-7402, Unlocking Homeownership Act, is a 119th Congress bill sponsored by Rep. Moore, Tim [R-NC-14] (R-NC); status introduced; PRIA reads it as touching household money (as of 2026-09-21).

- Canonical: https://policyrisk.com/legislation/119-hr-7402
- As of: 2026-09-21
- Plain-text twin of the page above; the HTML and this file carry the same facts.

## Facts
- Bill: 119-hr-7402
- Congress: 119
- Title: Unlocking Homeownership Act
- Status: introduced
- Introduced: 2026-02-05
- Sponsor: Rep. Moore, Tim [R-NC-14] (R-NC)
- Cosponsors: 1
- Policy area: Taxation
- Touches household money: yes
- Last recorded action: 2026-09-21

## Summary

**This bill would allow 529 plan funds to be used for first-time home purchases.** It creates a new 'qualified first-time homebuyer distribution' and sets eligibility, timing, transfer, recontribution, and disaster rules for using 529 money on a principal residence.

## Cosponsors (1)

- Rep. Lawler, Michael [R-NY-17] (R-NY), 2026-04-20T00:00:00.000Z

## Provisions PRIA read

- Use 529 savings for a first home: benefit, medium. If enacted, you would be able to use money from a 529 plan to pay first-time homebuyer acquisition costs without the usual tax and penalty for nonqualified withdrawals. The money must be used within 120 days after receipt to pay qualified acquisition costs for the principal residence of a first-tim…

## Related bills

- 119-hr-6644: 21st Century ROAD to Housing Act
- 119-hr-3151: SHIPS for America Act of 2025
- 119-hr-3816: Weather Act Reauthorization Act of 2025
- 119-hr-4669: FEMA Act of 2025
- 119-hr-9237: Take Care of America’s Veterans Act
- 119-hr-2725: Affordable Housing Credit Improvement Act of 2025

## Sources
- [119-hr-7402 on Congress.gov](https://www.congress.gov/bill/119th-congress/house-bill/7402)

## Related
- [119-hr-6644: 21st Century ROAD to Housing Act](https://policyrisk.com/legislation/119-hr-6644)
- [119-hr-3151: SHIPS for America Act of 2025](https://policyrisk.com/legislation/119-hr-3151)
- [119-hr-3816: Weather Act Reauthorization Act of 2025](https://policyrisk.com/legislation/119-hr-3816)
- [119-hr-4669: FEMA Act of 2025](https://policyrisk.com/legislation/119-hr-4669)
- [119-hr-9237: Take Care of America’s Veterans Act](https://policyrisk.com/legislation/119-hr-9237)
- [119-hr-2725: Affordable Housing Credit Improvement Act of 2025](https://policyrisk.com/legislation/119-hr-2725)
- [All bills in Congress](https://policyrisk.com/legislation)

Source: PRIA, https://policyrisk.com/legislation/119-hr-7402 (as of 2026-09-21).