Bill Summary

by Edmonds

Tax Credits for Contributions to Assist Homebuyers: Authorizes certain taxpayers to receive tax credit for contributions made to certain employees for specified expenses related to buying a home; provides maximum credit authorized in certain circumstances; authorizes taxpayer to receive tax credit for contributions made to certain programs; requires taxpayer to submit application; authorizes tax credit to be used against certain taxes; requires Department of Revenue to approve applications on first-come, first served basis; provides maximum amount of credits authorized for certain fiscal years; authorizes unused credits to carryforward for specified period of time; prohibits sale or transfer of certain credits; provides future repeal.. Effective Date: July 1, 2026

Committee references not assigned.