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To amend the Internal Revenue Code of 1986 to allow distributions from qualified tuition programs for qualified housing expenses, and for other purposes.
Summary
The Save for Success Act would amend the Internal Revenue Code to allow withdrawals from qualified tuition programs, commonly known as 529 college savings plans, to be used for qualified housing expenses without tax penalties. The bill would allow distributions to be used to pay for the purchase of a principal residence by a first-time homebuyer, including closing costs and mortgage payments. A first-time homebuyer is defined as an individual who has not owned a principal residence during the 3-year period before the purchase. The amendment would apply to distributions made after December 31, 2026. This change allows families to use funds accumulated in 529 plans for home purchases in addition to their traditional use for education expenses.
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Sponsor (1)
2 cosponsors
Actions (2)
- Feb 5, 2026 Referred to the House Committee on Ways and Means. · house
- Feb 5, 2026 Introduced in House
Similar bills (6)
Bills with similar text or summary — includes reintroductions across Congresses. Ranked by semantic similarity of the bill text (computed locally); a neutral discovery aid, not a claim the bills are duplicates.
Full text
IN THE HOUSE OF REPRESENTATIVES
February 5, 2026
Mr. Patronis (for himself and Mr. Bilirakis) 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 allow distributions from qualified tuition programs for qualified housing expenses, 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 “Save for Success Act”.
SEC. 2. ALLOWANCE OF DISTRIBUTIONS FROM QUALIFIED TUITION PROGRAMS FOR QUALIFIED HOUSING EXPENSES.
(a) In General.—Section 529(c)(3) of the Internal Revenue Code of 1986 is amended by adding at the end the following new subparagraph:
“(F) Distributions for qualified housing expenses.—
“(i) In general.—Subparagraph (A) shall not apply to that portion of any distribution which is used to pay for a qualified housing expense of the designated beneficiary.
“(ii) Qualified housing expense.—For purposes of this subparagraph, the term ‘qualified housing expense’, with respect to a designated beneficiary, means any expense incurred by such beneficiary for the purchase of a principal residence, but only if such beneficiary is a first-time homebuyer, and includes any closing costs and mortgage payments incurred with respect to such purchase.
“(iii) Other definitions.—For purposes of this subparagraph—
“(I) First-time homebuyer.—The term ‘first-time homebuyer’ means any individual if such individual (and if married, such individual’s spouse) had no present ownership interest in a principal residence during the 3-year period ending on the date of the purchase of the principal residence to which this subparagraph applies.
“(II) Principal residence.—The term ‘principal residence’ has the same meaning as when used in section 121.
“(III) Purchase.—The term ‘purchase’ has the meaning given such term in section 36(c).”.
(b) Effective Date.—The amendment made by this section shall apply to distributions made after December 31, 2026. <all>
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