First-Time Homebuyer Affordability Act

H.R. 10075 was introduced on August 10, 2026, by Rep. Darin LaHood (R-IL) and would amend the Internal Revenue Code of 1986 to exempt qualified mortgage bonds from the federal volume cap. In concrete terms, this means state and local governments would be able to issue qualified mortgage bonds — a type of tax-exempt bond used to fund below-market-rate mortgages, often for first-time or lower-income homebuyers — without those bonds counting against the annual per-state limit on private-activity bond issuance. The bill's full text has not yet been published, so the specific mechanics, effective dates, and any additional provisions referenced by "and for other purposes" are not yet known.

Because qualified mortgage bonds are typically administered through state and local housing finance agencies, the most directly affected parties would likely be those agencies and the homebuyers who benefit from the mortgage programs they run, since removing the volume-cap constraint could allow more such bonds to be issued. However, since no bill text is available, the actual scope of who is affected and by how much cannot be confirmed from the material at hand.

The bill was introduced in the House on August 10, 2026, and its most recent action is that introduction. Under standard legislative process, it would next be referred to a committee (typically Ways and Means for tax matters) for consideration before any further action, such as a committee vote or floor consideration, could occur.

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