Proposed legislation H.R. 7402 and H.R. 7393 aim to allow first-time homebuyers to make penalty-free and tax-free withdrawals from 529 college savings plans for home purchases and mortgage payments. This shift would expand the utility of education accounts to support housing affordability.
Congress Proposes Letting First-Time Buyers Use $35,000 from College Savings for Home Purchases
Congress Proposes Allowing Families to Use 529 College Savings for First-Time Home Purchases
Congress Proposes Allowing First-Time Homebuyers to Use 529 College Savings for Home Purchases
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