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New Bill Could Unlock $35K For 1st-Time Homebuyers

Bennet introduced the bill and said it could help working families use existing savings to afford a first home.

New Bill Could Unlock $35K For 1st-Time Homebuyers
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This article1 analysis · Sep 29, 2026
tl;dr

Sens. Jon Husted and Michael Bennet introduced a bipartisan bill that would let first-time homebuyers use up to $35,000 in unused 529 savings for a home purchase without a penalty. House members introduced a companion bill.

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Michael F. Bennet D · CO · SEN
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Michael F. Bennet
D · CO · SEN

Senate sponsor of the First-Time Homebuyer Empowerment Act

PRIMARY SUBJECT
Jon Husted
R · OH · SEN

Senate sponsor of the First-Time Homebuyer Empowerment Act

Husted's version of this story ↗
Tracey Mann
R · KS-1

House sponsor of the companion bill

Tom Barrett
R · MI-7

House sponsor of the companion bill

Mark Alford
R · MO-4

House sponsor of the companion bill

ALSO MENTIONED  Lou Correa, House sponsor of the companion bill

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