HR 7393
Save for Success Act
Jurisdiction
US Congress
Session
119th Congress (2025-2026)
Last updated at
Jun 14, 2026, 4:02 AM
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- Passed House
- Passed Senate
- To President
- Became Law
Bill overview
The Save for Success Act amends the Internal Revenue Code to allow individuals to use money saved in qualified tuition programs (529 plans) to help pay for the purchase of a first-time homebuyer’s principal residence. Specifically, it allows distributions from these plans to cover closing costs and mortgage payments, provided the beneficiary is a first-time homebuyer who did not own a home in the past three years. This change aims to provide greater financial flexibility for families saving for education and homeownership simultaneously.
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