- Stage
- In committee
- Started in
- House
- Sponsors
- 2
- Latest action
- Feb 9, 2026
What it does
The NEST Act would allow individuals to establish first-time homebuyer savings accounts, enabling tax-deductible contributions to pay for qualified home ownership expenses like down payments and closing costs. Contributions to these accounts would be deductible above the line, and employer contributions would be excluded from income and certain payroll taxes. The accounts are subject to state-specific contribution limits based on 20% of the state’s median home sale price, with restrictions on eligibility, investments, and use of funds, including a 20% additional tax on distributions not used for qualified home expenses.
No official summary is available here. This one was written by AI from the bill’s text.
Where it stands
Introduced (Done)
Committee (Current step)
Floor (Not started)
Law (Not started)
What moved
Who is involved
Sponsors
The lawmakers who put their names on it, lead sponsors first.
Where it goes next
While a bill can still move, the questions are about people and money.