HB 1176

Bill Subjects

Property; Housing State Government; State And Local Funding Taxes; Property Taxes

Abstract

Establishes the housing down payment assistance fund. Establishes a tax of 50% of the fair market value of a single family residence for each single family residence acquired by an applicable taxpayer after the applicable date. Establishes a maximum number of single family residences that may be owned by an applicable taxpayer after the applicable date for purposes of calculating an annual tax on any excess single family residences.