Save for Success Act

[Congressional Bills 119th Congress] [From the U.S. Government Publishing Office] [H.R. 7393 Introduced in House (IH)] <DOC> 119th CONGRESS 2d Session H. R. 7393 To amend the Internal Revenue Code of 1986 to allow distributions from qualified tuition programs for qualified housing expenses, and for other purposes. _______________________________________________________________________ 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 indiv