Uplifting First-Time Homebuyers Act of 2025

[AI summary unavailable — showing source text] [Congressional Bills 119th Congress] [From the U.S. Government Publishing Office] [S. 2867 Introduced in Senate (IS)] <DOC> 119th CONGRESS 1st Session S. 2867 To amend the Internal Revenue Code of 1986 to increase the limitation on qualified first-time homebuyer distributions, and for other purposes. _______________________________________________________________________ IN THE SENATE OF THE UNITED STATES September 18 (legislative day, September 16), 2025 Mr. Gallego (for himself and Mr. Young) introduced the following bill; which was read twice and referred to the Committee on Finance _______________________________________________________________________ A BILL To amend the Internal Revenue Code of 1986 to increase the limitation on qualified first-time homebuyer distributions, 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 ``Uplifting First-Time Homebuyers Act of 2025''. SEC. 2. INCREASING THE LIMITATION ON QUALIFIED FIRST-TIME HOMEBUYER DISTRIBUTIONS. (a) In General.--Section 72(t)(8)(B)(i) of the Internal Revenue Code of 1986 is am…