[Congressional Bills 117th Congress]
[From the U.S. Government Publishing Office]
[H.R. 4165 Introduced in House (IH)]

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117th CONGRESS
  1st Session
                                H. R. 4165

 To amend the Internal Revenue Code of 1986 to increase the limitation 
    on qualified first-time homebuyer distributions, and for other 
                               purposes.


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                    IN THE HOUSE OF REPRESENTATIVES

                             June 24, 2021

   Ms. Van Duyne (for herself, Mr. Duncan, Mr. Mast, Mr. Steube, Mr. 
  Stewart, and Mr. Donalds) 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 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 2021''.

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 amended by striking ``$10,000'' and inserting 
``$20,000''.
    (b) Effective Date.--The amendment made by this Act shall apply to 
taxable years beginning after December 31, 2020.
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