Staff reportU.S. Sen. Jon Husted introduced bipartisan legislation to help first-time homebuyers tap into unused money from a college savings fund they may have toward a down payment. The First-Time Homebuyer Empowerment Act is co-sponsored by Husted, an Ohio Republican and U.S. Sen. Michael Bennet, a Colorado Democrat. The bill would allow people to transfer up to $35,000 in leftover college savings from their 529 Plans tax free for the purchase of a first home. By freeing up existing resources for first-time homebuyers, Husted said the bill would remove barriers to making a down payment and help more families afford a home. By freeing up existing resources, I'm proud this bipartisan bill gives first-time homebuyers another tool to use in pursuing their version of the American Dream."