H.R. 8677

[Congressional Bills 119th Congress]
[From the U.S. Government Publishing Office]
[H.R. 8677 Introduced in House (IH)]

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119th CONGRESS
2d Session
H. R. 8677

To amend the Internal Revenue Code of 1986 to allow a refundable credit 
for qualified home acquisition expenses, and for other purposes.

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IN THE HOUSE OF REPRESENTATIVES

May 7, 2026

Mr. Burlison introduced the following bill; which was referred to the 
Committee on Ways and Means

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A BILL

To amend the Internal Revenue Code of 1986 to allow a refundable credit 
for qualified home acquisition expenses, 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 ``Make the American Dream Real Again 
Act''.

SEC. 2. REFUNDABLE CREDIT FOR QUALIFIED HOME ACQUISITION EXPENSES.

(a) In General.--Subpart C of part IV of subchapter A of chapter 1 
of the Internal Revenue Code of 1986 is amended by inserting after 
section 36B the following new section:

``SEC. 36C. QUALIFIED HOME ACQUISITION EXPENSES.

``(a) In General.--In the case of an individual who sells their 
principal residence to a first-time homebuyer during a taxable year, 
there shall be allowed as a credit against the tax imposed by this 
subtitle for such taxable year an amount equal to the lesser of--
``(1) the amount paid by the taxpayer for the qualified 
home acquisition expenses of such first-time homebuyer with 
respect to such principal residence, or
``(2) the amount by which the tax liability of the taxpayer 
would decrease if the taxpayer did not have any gain from the 
sale of such principal residence included in the taxpayer's 
gross income.
``(b) Definitions.--For purposes of this section--
``(1) First-time homebuyer.--The term `first-time 
homebuyer' means any individual if such individual (and if 
married, such individual's spouse) had no present ownership 
interest in a principal residence during the 2-year period 
ending on the date of the sale of the principal residence to 
which subsection (a) applies.
``(2) Principal residence.--The term `principal residence' 
has the same meaning as when used in section 121.
``(3) Qualified home acquisition expenses.--The term 
`qualified home acquisition expenses' means the costs of 
acquiring a residence, including any down payment, inspection 
costs, and closing costs.
``(c) Regulations.--The Secretary shall issue such regulations or 
other guidance as may be necessary to carry out the purposes of this 
section.''.
(b) Conforming Amendments.--
(1) Section 1324(b)(2) of title 31, United States Code, is 
amended by inserting ``36C,'' after ``36B,''.
(2) Section 6211(b)(4)(A) of the Internal Revenue Code of 
1986 is amended by inserting ``36C,'' after ``36B,''.
(3) The table of sections for subpart C of part IV of 
subchapter A of chapter 1 of such Code is amended by inserting 
after the item relating to section 36B the following new item:

``Sec. 36C. Qualified home acquisition expenses.''.
(c) Effective Date.--The amendments made by this section shall 
apply to taxable years beginning after December 31, 2026.
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