H.R. 10075House119th Congress (2025-2027)In Committee

First-Time Homebuyer Affordability Act

To amend the Internal Revenue Code of 1986 to exempt qualified mortgage bonds from the volume cap, and for other purposes.

AI-Generated Summary

Updated August 13, 2026 at 5:21 AM UTC

The First-Time Homebuyer Affordability Act changes the tax code so that qualified mortgage bonds are no longer counted toward the overall volume cap on tax‑exempt bonds. This makes it easier for issuers to create mortgage‑backed bonds without hitting the cap, potentially increasing funding for home‑buyer programs. The changes apply to any qualified mortgage bonds issued after the law takes effect.

Key Provisions

Adds a new category—“any qualified mortgage bond”—that is exempt from the volume cap in the Internal Revenue Code.
Renumbers existing list items in the code to accommodate the new exemption and updates cross‑references accordingly.
The exemption applies only to bonds issued after the law’s enactment date.

Legislative Activity

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1 earlier action

HouseIntro Referral Latest Action

Referred to the House Committee on Ways and Means.

Ways and Means Committee

August 10, 2026

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HouseIntro Referral

Introduced in House

August 10, 2026

HouseIntro Referral

Referred to the House Committee on Ways and Means.

Ways and Means Committee

August 10, 2026

Bill Text

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Introduced in HouseIssued August 10, 2026

119th CONGRESS

2d Session

H. R. 10075

IN THE HOUSE OF REPRESENTATIVES

August 10, 2026

Mr. LaHood (for himself, Mr. Panetta, Mr. Moore of Utah, and Mr. Suozzi) 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 exempt qualified mortgage bonds from the volume cap, and for other purposes.

Short title

This Act may be cited as the First-Time Homebuyer Affordability Act.

Qualified mortgage bonds exempt from volume cap

(a)

In general

Section 146(g) of the Internal Revenue Code of 1986 is amended by redesignating paragraphs (1) through (6) as paragraphs (2) through (7), respectively, and by inserting before paragraph (2) the following new paragraph:

(1)

any qualified mortgage bond,

(b)

Conforming amendment

Section 146(g) of such Code, as amended by subsection (a), is amended by striking Paragraphs (4) and (5) in the last sentence and inserting Paragraphs (5) and (6).

(c)

Effective date

The amendments made by this section shall apply to obligations issued after the date of the enactment of this Act.