Patronis, Bilirakis Introduce Bill to Allow Younger Generations to Live the American Dream of Homeownership

WASHINGTON, D.C. - Congressman Jimmy Patronis (FL-01) and Congressman Gus Bilirakis (FL-09) introduce H.R. 7393, the Save for Success Act, which will allow distributions from qualified tuition programs to be used for qualified housing expenses for first-time homebuyers. 

“For too many young families, saving for a first home feels further out of reach every year,” said Congressman Patronis. “The Save for Success Act makes it more affordable for first-time homebuyers to purchase their first home by giving them greater flexibility to use the savings they have already set aside. Homeownership does not just benefit families, it strengthens our communities because when people have a stake in their neighborhood, they care more about schools, public safety, and local infrastructure. It is time to give our younger generations the opportunity to live the American Dream and build stronger, more vibrant communities.”

For countless Americans, the goal of buying a first home has become increasingly out of reach even for those who have worked hard and played by the rules,” said Congressman Bilirakis. “Families are budgeting carefully, saving responsibly, and planning for their future, yet rising costs continue to put homeownership beyond their grasp. The Save for Success Act provides a practical solution by giving first-time buyers greater access to the savings they have already earned and set aside. Owning a home offers more than shelter-it provides stability, pride, and a lasting connection to a community. This legislation is about expanding opportunity, strengthening communities, and ensuring the American Dream remains attainable for the next generation.”

This legislation would amend the Internal Revenue Code of 1986 by adding “qualified housing expenses” as costs paid by a first-time homebuyer to purchase a principal residence, including closing costs and mortgage payments. A first-time homebuyer is someone who, along with their spouse if married, did not own a principal residence at any time during the three years before the purchase. The term “principal residence” follows the existing federal tax definition, and “purchase” is defined under current tax law. The change applies to eligible distributions made after December 31, 2026.

To view the full bill, click HERE.

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