Bill · H.R. 7393· House(119-HR-7393)
Save for Success Act
- Introduced
- 2/5/2026
- Last activity
- 2/5/2026 — Referred to the House Committee on Ways and Means.
- Sponsored by
- Jimmy Patronis
- Cosponsors
- - 1 - 1
- Introduced
- In Committee
What this bill would do
This bill, known as the "Save for Success Act," aims to amend the Internal Revenue Code of 1986. It proposes to allow distributions from qualified tuition programs to be used for qualified housing expenses. These expenses must be related to the purchase of a principal residence by a designated beneficiary. To qualify, the beneficiary must be a first-time homebuyer. The changes would take effect for distributions made after December 31, 2026.
Yes· 3 of 7
Would people in their twenties and thirties be better off under this?+4
The bill specifically assists first-time homebuyers, a demographic that often includes young adults entering the housing market.
Would students be better off under this?+4
The bill allows students or former students with 529 accounts to use those funds toward purchasing their first home.
Would middle-income households be better off under this?+3
The bill provides middle-income families with more flexible options for using savings held in qualified tuition programs.
The opposite
No question was scored the opposite.
Who it would affect, and how
Potential Positive Impacts for People
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Assistance with Home Ownership: The bill allows distributions from qualified tuition programs to pay for a principal residence, which includes mortgage payments and closing costs (Section 2(a)(ii)). This could help beneficiaries transition into homeownership.
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Support for First-Time Buyers: The provision specifically targets first-time homebuyers, defined as those who had no present ownership interest in a principal residence during the 3-year period ending on the date of purchase (Section 2(a)(ii)(I)). This provides a specific financial pathway for those looking to enter the housing market.
Potential Negative Impacts for People
- No specific negative impacts or burdens are explicitly stated in the provided text.
Groups and Interests Ranking
Every group the model scored this bill for, from -10 to +10. Hover a score for the reason it gave.
- Demographic And Interest Groups
- Good For Students+4Good For Young Adults+4Good For Middle Class Households+3
- Economy And Finance
- Improves Economic Growth+2Reduces Small Business Taxes+1
- Social Issues And Justice
- Improves Affordable Housing+3
- Education And Technology
- Improves College Affordability+2
- 3/25/2026
- 1 Cosponsor added.
- 2/5/2026
- Referred to the House Committee on Ways and Means.
- 1 Cosponsor added.
- Introduced in House
Gus BilirakisRepublican · Florida
Darren SotoDemocrat · Florida