H.R. 2748 — First Time Homeowner Savings Plan Act

This section increases the lifetime limit on penalty-free distributions from qualified retirement plans for qualified first-time homebuyers to $25,000 (from $10,000). It also establishes an inflation adjustment for that amount in taxable years beginning after 2026, based on the cost-of-living adjustment under IRC §1(f)(3) using calendar year 2025 as the base year and rounded to the nearest $100. The changes apply to distributions made after December 31, 2025.