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First-Time Homebuyer Affordability Act
To amend the Internal Revenue Code of 1986 to exempt qualified mortgage bonds from the volume cap, and for other purposes.
Summary
- Exempts qualified mortgage bonds from the annual volume cap that limits states' tax-exempt bond issuance.
- Allows states to issue more tax-exempt bonds for financing first-time homebuyer mortgages without being constrained by the state volume limit.
- The exemption applies to bonds issued after the bill is enacted.
AI-generated plain-language summary of the bill text — neutral, and may be imperfect. See the full text below for the exact wording.
Sponsor (1)
- Rep. LaHood, Darin [R-IL-16] (R-IL)
3 cosponsors
Money behind the sponsor
Top reported contributors to Darin Lahood’s campaign committee (2024 cycle) — who funds the bill’s sponsor, not a claim about this bill. Data from FEC.
- SPRINGFIELD ARMORY $25,000
- NULL $24,450
- MARQUIS MANAGEMENT, INC. $23,100
- BGR GROUP $14,700
- ULINE $13,200
Organizations whose employees gave the most — itemized individual contributions grouped by the donor’s reported employer (FEC Schedule A). Full finance for Darin Lahood → · Outside spending →
Actions (2)
- Aug 10, 2026 Referred to the House Committee on Ways and Means. · house
- Aug 10, 2026 Introduced in House
Text versions (1)
Bills are re-published as they move (Introduced → Reported → Engrossed → Enrolled …). Each stage below is a separate text; pick two to see what changed. Data from Congress.gov.
Full text
IN THE HOUSE OF REPRESENTATIVES
August 10, 2026
Mr. LaHood (for himself, Mr. Panetta, Mr. Moore of Utah, and Mr. Suozzi) introduced the following bill; which was referred to the Committee on Ways and Means
A BILL
To amend the Internal Revenue Code of 1986 to exempt qualified mortgage bonds from the volume cap, and for other purposes.
Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
This Act may be cited as the “First-Time Homebuyer Affordability Act”.
SEC. 2. QUALIFIED MORTGAGE BONDS EXEMPT FROM VOLUME CAP.
(a) In General.—Section 146(g) of the Internal Revenue Code of 1986 is amended by redesignating paragraphs (1) through (6) as paragraphs (2) through (7), respectively, and by inserting before paragraph (2) the following new paragraph:
“(1) any qualified mortgage bond,”.
(b) Conforming Amendment.—Section 146(g) of such Code, as amended by subsection (a), is amended by striking “Paragraphs (4) and (5)” in the last sentence and inserting “Paragraphs (5) and (6)”.
(c) Effective Date.—The amendments made by this section shall apply to obligations issued after the date of the enactment of this Act. <all>
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