Uplifting First-Time Homebuyers Act of 2021
This bill increases from $10,000 to $20,000 the lifetime limitation on penalty-free distributions from tax-exempt retirement plans for first-time homebuyers.
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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Uplifting First-Time Homebuyers Act of 2021
To amend the Internal Revenue Code of 1986 to increase the limitation on qualified first-time homebuyer distributions, and for other purposes.
Uplifting First-Time Homebuyers Act of 2021
Rep. Van Duyne, Beth